Mizuho Downplays Merck (MRK) KEYTRUDA Competition in 1L NSCLC

Mizuho Securities analyst Mara Goldstein reiterated a Buy rating and $97.00 price target on Merck (NYSE: MRK) following AstraZeneca PLC (AZN) news.

Goldstein commented, "Our thesis on MRK centers around KEYTRUDA as a driver of P&L transformation. Over the past week, competitors BMY (9LA) and now AZN (POSEIDON) have released news of clinical success in I/O+I/O+chemo combinations in 1L NSCLC, prompting weakness in MRK shares. For a variety of reasons, which we outline below, we continue to believe that KEYTRUDA+chemo will remain the dominant choice in 1L NSCLC. We believe the overall trajectory of KEYTRUDA remains unchanged."

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 $82.26 yesterday.

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