BMO Capital downgraded Merck (MRK) to Market Perform from Outperform with a price target of $105, down from $136. The firm cites Merck’s commercial overhangs, namely the Gardasil franchise in China, and the need for additional clarity on how the company plans to fill the Keytruda gap with Inflation Reduction Act negotiation and biosimilars on the horizon for the downgrade. Given a “mounting skepticism across Pharma,” BMO sees Merck shares “potentially stuck in limbo” over the next 12 months with more attractive options available elsewhere.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRK:
- Micron sinks on guidance, TripAdvisor to buy Liberty TripAdvisor: Morning Buzz
- Personalis receives $50M investment from Merck, extends pact with Moderna
- Merck’s doravirine/islatravir combination meets efficacy endpoint in HIV-1
- MasterCard boosts dividend, Jabil reports Q1 beat: Morning Buzz
- Trump Trade: Analyst says Trump win ‘not as positive as you’d think’ for Tesla