Berenberg lowered the firm’s price target on Merck (MRK) to $125 from $135 and keeps a Buy rating on the shares. The firm says Merck has lost over $55B in market value since it first reported weak Gardasil sales in China at its Q2 results. However, the company continues to deliver strong growth across the rest of the business and Merck’s sustained share price weakness presents a buying opportunity, the analyst tells investors in a research note.
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