Merck KGaA

MRK: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€128.00	Pykshtl	Brxlrsvqb

Merck KGaA Expects to Continue Benefiting From COVID-19 in 2022; Shares Moderately Rich

Julie Utterback

Mar 3, 2022

Narrow-moat Merck KGaA revealed strong fourth-quarter operating results that continued to be helped by pandemic-related activities. Given our view that Merck's prospects may decelerate in the intermediate term when the pandemic turns into an endemic situation, we are keeping our fair value estimate intact and continue to view the shares as moderately rich.

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