Merck price target raised to $100 from $98 at Morgan Stanley

Core Viewpoint - Morgan Stanley analyst Terence Flynn raised the price target on Merck (MRK) to $100 from $98 while maintaining an Equal Weight rating on the shares, indicating a cautious outlook despite recent performance [1]. Financial Performance - Merck's Q3 results exceeded expectations, primarily driven by one-time events and the performance of Januvia, although Keytruda and Winrevair fell short of expectations [1]. - The analyst projects 2026 EPS to be $9.44, reflecting anticipated growth from new product launches [1]. Future Guidance - Merck has guided for "solid" top-line growth in 2026, attributed to new launches, but also noted an increase in operating expenses [1].