Morgan Stanley analyst Terence Flynn raised the firm’s price target on Merck (MRK) to $100 from $98 and keeps an Equal Weight rating on the shares. Q3 results beat expectations, but driven by one-timers and Januvia as Keytruda and Winrevair came in below expectations, the analyst tells investors. Merck guided to “solid” top line growth in 2026 from new launches, but also highlighted an acceleration in operating expense, notes the analyst, who models 2026 EPS of $9.44.
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