UBS has given Merck KGaA a "Buy" rating with a target price of 190 euros after the company's third-quarter results.

The bank stated that sales were in line with market expectations, but the adjusted operating result (EBITDA) exceeded forecasts due to reduced research spending in the healthcare sector.

Analyst Matthew Weston believes that this decrease in spending is not expected to continue. The report mentioned that there were no major surprises in Merck KGaA's financial performance, indicating stability in the company's operations.

The analysis was published on November 14, 2024, and reflects UBS's ongoing confidence in the company's prospects despite potential changes in research investment strategies.