UPDATE: Morgan Stanley Downgrades Merck (MRK) to Equalweight

Morgan Stanley analyst Matthew Harrison downgraded Merck (NYSE: MRK) from Overweight to Equalweight with a price target of $85.00 (from $90.00).

The analyst comments "We downgrade from Overweight to Equal-weight. While we believe mgt. can continue to drive Keytruda upside, we think investors are unlikely to pay for that upside as they remain concerned about lack of LOE diversification. Strategic action to address that LOE concern is needed to unlock upside."

For an analyst ratings summary and ratings history on Merck click here. For more ratings news on Merck click here.

Shares of Merck closed at $77.26 yesterday.

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