UBS analyst Trung Huynh lowered the firm’s price target on Merck to $136 from $142 and keeps a Buy rating on the shares ahead of the Q3 earnings report. The firm is 1% higher than consensus on Q3 sales, and says focus will be on management comments on Gardasil and, to a lesser degree, Winrevair, the analyst tells investors in a research note. UBS is more positive on Winrevair but believes it will take time for the Gardasil China issue to be resolved, and the firm is uncertain Merck will offer enough clarity for investors to remove this overhang in Q3.
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