Citi analyst Geoff Meacham lowered the firm’s price target on Merck (MRK) to $130 from $140 and keeps a Buy rating on the shares following a transfer of analyst coverage. The firm sees new growth levers to offset the Keytruda loss of exclusivity. Merck’s vaccine franchise is a “high impact contributor,” the analyst tells investors in a research note.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRK:
- Merck: EC approves two new indications for Keytruda
- PMV provides update on Phase 2, Phase 1b portions of PYNNACLE trial
- Merck acquires Modifi Biosciences for $30M upfront
- Gilead, Merck announce from Phase 2 islatravir/lenacapavir combo study
- Merck reports ‘positive’ results from Phase 2b/3 trial of clesrovimab