UBS confirms its Buy recommendation and raises its price target to 185 E (from 178 E), which now represents a potential upside of 14%.

'EPS for FY 2024 and FY 2025 increased after a strong second quarter and upward revision of forecasts. Rising electronics and an improving environment in life sciences were offset by a lack of innovation in the healthcare sector' says UBS.

Merck has raised its targets for 2024 as well as for the Healthcare and Electronics business sectors. The Group expects net sales in the range of €20.7 to €22.1 billion and organic growth of +2% to +5% (previously: €20.6 to €22.1 billion; organic growth of +1% to +5%).

EBITDA should be in the range of 5.8 to 6.4 billion euros, with organic growth of +4% to +10% (previously: 5.7 to 6.3 billion euros; organic growth of +1% to +7%). EPS is now expected to be between E8.20 and E9.30 (previously: E8.05 to E9.10).

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