Guggenheim analyst Vamil Divan lowered the firm’s price target on Merck (MRK) to $115 from $122 and keeps a Buy rating on the shares. The firm is updating its company model following Q4 earnings and the company’s initial FY25 guidance, noting that its lower target is mainly driven by lower sales estimates for Gardasil, partially offset by higher expectations on management’s ability to execute on converting patients to subcutaneous Keytruda.
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