— Merck's stock rose about 1.7% after being upgraded to buy from neutral by Bank of America.
Analysts cited the company's consistent revenue upside, as well as the substantial progress it has made strengthening its cancer drug Keytruda's position and softening the impact of when it goes off patent— Shares of the pharma giant were down about 1.4% after being downgraded by Bank of America to neutral from buy. Among the reasons for the call was the uncertainty over the magnitude of the revenue decline for its Covid drugs, Comirnaty and Paxlovid.
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