HSBC upgraded Merck (MRK) to Buy from Hold with a $130 price target The firm believes Merck’s current valuation provides a significant margin of safety. The main focus for the market for Merck in 2025 will be around stabilization of Gardasil revenues in China, update of sub-cutaneous Keytruda and the launch trajectory of Winrevir, the analyst tells investors in a research note. The firm says that despite its track record, the pipeline success will not be reflected in the estimates and multiples until the early evidence of success is presented.
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