UBS AG has reiterated its "Buy" rating for Merck KGaA, with a target price of €190, following the company's recent capital market day.

Analyst Matthew Weston remains confident in the stock's attractive valuation, reinforcing the positive outlook for the pharmaceutical and specialty chemicals group.

As of 10:48 AM in XETRA trading, Merck shares have declined by 1.3% and are currently trading at €159.85. However, despite this dip, the stock still has an upside potential of approximately 18.86% relative to UBS's target price.

Since the beginning of 2024, Merck's share price has increased by 12.6%, indicating a strong performance in the market.

Investors are eagerly awaiting the release of Merck's Q3 2024 financial results, which are scheduled for November 14, 2024. These results could provide further insights into the company's performance and future prospects.