Merck price target raised to $105 from $98 at BofA

BofA analyst Tim Anderson raised the firm’s price target on Merck (MRK) to $105 from $98 and keeps a Buy rating on the shares. The Cidara (CDTX) deal is a “reasonable” one, as the company’s experimental flu drug is a novel asset with a high likelihood of technical success and complementary to Merck’s Infectious Disease franchise, the analyst tells investors in a research note. The firm added that Merck shares are too cheap for the growth it should be able to deliver on a near- and long-term basis.