Guggenheim analyst Seamus Fernandez raised the firm’s price target on Merck to $124 from $123 and keeps a Buy rating on the shares as the firm updates forecasts ahead of Q1 earnings for companies in its global biopharma coverage. Better-than-expected Q1 sales, excluding COVID sales of molnupiravir, are "likely," but a heavy quarter in terms of IPR&D "limits EPS upside," the firm says in its preview note.
Published first on TheFly
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