As of the end of 2008, Merck shares were covered and assessed by 34 stockbrokers and equity analysts. In comparison, other DAX® companies are followed by an average of 38 brokerages. They serve as multipliers that inform the stakeholders in the capital markets of business developments in a timely manner.
At the end of 2008, a total of 34 investment recommendations had been issued: Merck shares were given buy recommendations by 26 analysts, seven brokerages gave the shares a neutral rating, and one issued a sell recommendation. Analysts adjusted their expectations for the share price as a result of the general pessimism in the capital market. Whereas in 2007 they had estimated an average price of € 102 for Merck shares within one year, their share price estimate was € 79 in 2008. This corresponds to a share price potential of more than 20% compared to the year-end share price of 2008.
Details of the individual analysts and their estimates can be found on our website at www.merck.de/investors.
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