Citi raised the firm’s price target on Merck (MRK) to $140 from $135 and keeps a Buy rating on the shares. The analyst “once again” increased the firm’s non-GAAP earnings estimates and is now up to 42% ahead of consensus. Street sotatercept launch expectations for 2024 and beyond look “highly conservative” given feedback from U.S. pulmonary arterial hypertension prescribers, the analyst tells investors in a research note. The firm also expects Merck’s V116 pneumococcal vaccine to take 50% share from Pfizer’s (PFE) Prevnar20 in adults for the 2024/2025 season.
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