(News Bulletin 247) – Jefferies maintains its Buy rating on Merck stock but reduces its price target from $205 to $190
Given the importance of evobrutinib to the investment case, this note assesses competitive risk, ‘including an analysis of preclinical data from Roche’s fenebrutinib which may demonstrate superior safety and efficacy to that of its category.
In healthcare, Jefferies is above consensus on Xevinapant and the Fertility franchise, but slightly below on evobrutinib.
In the electronics sector, the analyst is more cautious than the consensus on Display turnover: ‘we do not expect a recovery before 2026’.
For life sciences, Jefferies does not believe the consensus has taken into account the rise in capital investment. ‘We are ahead of 1% to 3% on EBITDApre from 2026’ underlines the analyst.
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