Merck price target lowered to $106 from $113 at Morgan Stanley

Morgan Stanley analyst Terence Flynn lowered the firm’s price target on Merck (MRK) to $106 from $113 and keeps an Equal Weight rating on the shares. The company’s 2025 guidance came in below expectations as Gardasil demand in China remains weak and the firm is reducing its estimates, thought more broadly, the focus remains on the Keytruda tail / loss of exclusivity and the progress with Merck’s pipeline efforts, the analyst tells investors in a research note.