Truist analyst Robyn Karnauskas lowered the firm’s price target on Merck to $116 from $118 and keeps a Buy rating on the shares. The price target change is the result of model updates for the IPR&D charge of $10.3B for the completion of Prometheus Biosciences acquisition, as well as the addition of IBD drug MK-7240 acquired post the transaction, the analyst tells investors in a research note.
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