Merck KGaA

MRK: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Merck KGaA: Relaunching Coverage With a EUR 148 FVE and Narrow Moat; Shares are Fairly Valued

Max Jousma

Mar 20, 2025

After taking a fresh look at Merck KGaA, we are maintaining the company’s narrow moat rating, while adjusting the fair value estimate to EUR 148 from EUR 171.

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Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

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Merck KGaA

Merck KGaA: Relaunching Coverage With a EUR 148 FVE and Narrow Moat; Shares are Fairly Valued

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