Merck upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded Merck based on expectations that appreciation for TRA will build in 2010 and 2011, a favorable IMPROVE-IT interim analysis in mid 2010, and acquisition synergies. Target to $47 from $35. :theflyonthewall.com
News For MRK From The Last 14 Days
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Today's noteworthy initiations include: Acorda Therapeutics (ACOR) initiated with a Sell at Goldman... Bristol-Myers (BMY) initiated with an Outperform at BMO Capital... Corning (GLW) initiated with a Neutral at Susquehanna... Cree (CREE) initiated with a Positive at Susquehanna... Exactech (EXAC) initiated with a Buy at Benchmark Co... Hawaiian Holdings (HA) initiated with an Outperform at Imperial Capital... Mattel (MAT) initiated with a Buy at SunTrust... Merck (MRK) initiated with a Market Perform at BMO Capital... Micron (MU) initiated with a Buy at ThinkEquity... SanDisk (SNDK) initiated with a Hold at ThinkEquity... Spansion (CODE) initiated with a Buy at ThinkEquity... Dendreon (DNDN) initiated with a Sell at Maxim. :theflyonthewall.com
Amylin takeover could get done in mid-$30's per share, says Leerink
Leerink is not surprised by the number of potential bidders reportedly interested in Amylin (AMLN) and says a deal for the company could get done reasonably in the mid-$30 per share range for the right acquirer. The firm thinks a bidding war could push the takeover price even higher. Leerink views Amylin as being the most strategic for Sanofi (SNY), followed by Merck (MRK), and believes and Bristol-Myers' (BMY) purported $22 per share bid sets a floor for any acquisition offer. :theflyonthewall.com
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