Merck Delivers Solid GAAP Results, But China HPV Franchise Sales Still Sluggish… Thus, An NYSE Dip.

Not even remotely… surprising (if you are a regular reader, here). The NYSE decline is overwrought, though — to be sure.

So much so, that an eleven year old legacy graphic fits today’s news — nicely. Heh.

And my twelve month target remains at $130/share — due to the earnings juggernaut that is pembrolizumab (continuing to about 2032). But China is not vaccinating with Gardasil at the levels it used to, so the NYSE pre-market is showing a ~7% down-bubble (pre-market):

…Fourth-quarter adjusted earnings of $1.72 a share topped Wall Street’s call for $1.61, while global sales of $15.6 billion beat the FactSet consensus of $15.5 billion.

For the full year, earnings of $7.65 a share surpassed estimates of $7.53. Sales of $64.2 billion also beat expectations….

Now you know — and the decline in trading price will be a temporary dip — onward, grinning.

नमस्ते