Merck price target lowered to $123 from $130 at Morgan Stanley

Morgan Stanley analyst Terence Flynn lowered the firm’s price target on Merck (MRK) to $123 from $130 and keeps an Equal Weight rating on the shares. The Q3 reported highlighted ongoing uncertainty around Gardasil and China heading into 2024, notes the analyst, who has lowered estimates following the Q3 earnings beat and largely maintained guidance.