Morgan Stanley analyst Terence Flynn lowered the firm’s price target on Merck (MRK) to $113 from $123 and keeps an Equal Weight rating on the shares. The firm, which refreshed its model and valuation ahead of Q4 results and 2025 guidance, removed vibostolimab from its model following last month’s discontinuation of the clinical development program. The key focus for Q4 is on 2025 guidance, the Winrevair launch, and Gardasil dynamics in China, the analyst tells investors.
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