Wall Street analyst price targets, ratings consensus & upside potential · Updated Feb 28, 2026
Last 12 months price action with 12-month analyst target path
As of March 2, 2026, Merck & Co., Inc. (MRK) has a Wall Street consensus price target of $123.92, based on estimates from 36 covering analysts. With the stock currently trading at $123.78, this represents a potential upside of +0.1%. The company has a market capitalization of $307.22B.
Analyst price targets range from a low of $90.00 to a high of $150.00, representing a 48% spread in expectations. The median target of $130.00 aligns closely with the consensus average.
The current analyst consensus rating is Buy, with 24 analysts rating the stock as a Buy or Strong Buy,11 rating it Hold, and 1 rating it Sell or Strong Sell. The positive sentiment balance indicates moderate optimism about the stock prospects.
From a valuation perspective, MRK trades at a trailing P/E of 17.0x and forward P/E of 24.0x. The forward PEG ratio of 1.13 indicates reasonable valuation for growth. Analysts expect EPS to grow -29.8% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $145.36, with bear and bull scenarios of $23.19 and $160.63 respectively. Model confidence stands at 55/100, reflecting moderate uncertainty in projections.
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Start ComparisonThe consensus price target for MRK is $123.92, close to the current price of $123.78 (0.1% implied move). Based on 36 analyst estimates, the stock appears fairly valued near current levels.
MRK has a consensus rating of "Buy" based on 36 Wall Street analysts. The rating breakdown is predominantly bullish, with 24 Buy/Strong Buy ratings. The consensus 12-month price target of $123.92 implies 0.1% upside from current levels.
MRK trades at a forward P/E of 24.0476x, representing a moderate valuation. With analysts targeting $123.92 (0.1% implied move), the stock appears close to fair value.
The most bullish Wall Street analyst has a price target of $150 for MRK, while the most conservative target is $90. The consensus of $123.92 represents the median expectation. Our quantitative valuation model projects a bull case target of $161 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
MRK is heavily covered by Wall Street, with 36 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 24 have Buy ratings, 11 recommend Hold, and 1 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month MRK stock forecast based on 36 Wall Street analysts shows a consensus price target of $123.92, with estimates ranging from $90 (bear case) to $150 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $145, with bear/bull scenarios of $23/$161.
Our quantitative valuation model calculates MRK's fair value at $145 (base case), with a bear case of $23 and bull case of $161. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 55/100.
MRK trades at a forward P/E ratio of 24.0x based on next-twelve-months earnings estimates compared to a trailing P/E of 17.0x. The higher forward P/E suggests near-term earnings pressure. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
MRK appears fairly valued according to analysts, with a "Buy" rating and minimal upside to the $123.92 target. Consider your investment thesis and risk tolerance. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
MRK analyst price targets range from $90 to $150, a 48% moderate spread showing some variance in outlooks. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $123.92 consensus represents the middle ground. Our model's $23-$161 range provides an independent fundamental perspective.