Merck: Jefferies cuts target price
(CercleFinance.com) - Jefferies maintains its Buy rating on the Merck stock, although has cut its target price for it to $190 (from $205).
Given the importance of evobrutinib to the investment thesis, this rating assesses competitive risk, "including an analysis of pre-clinical data from Roche's fenebrutinib which we believe could show best-in-class safety & efficacy".
In the healthcare sector, Jefferies is above consensus on Xevinapant and the Fertility franchise, but slightly below it on evobrutinib.
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