Wells Fargo raised the firm’s price target on Merck (MRK) to $135 from $125 and keeps an Overweight rating on the shares. The firm says weak 2026 guidance was primarily due to LOE products. This does not change the bull thesis for Wells as Merck continues to execute on new launches and its late-stage pipeline in the next 12-18 months. The firm still sees a future beyond Keytruda.
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