Citi analyst Andrew Baum raised his price target for Merck (MRK) to $79 and reiterates a Buy rating on the shares. Following upward revisions to his Lynparza expectations, the analyst raised his earnings forecasts for Merck by 1%-9% over the 2021 to 2025 timeframe. The analyst anticipates that positive Lynparza first-line ovarian cancer trial will make Lynparza standard of care in wild type first-line ovarian cancer patients and leaving it well positioned to take market share in immuno-oncology based combinations post 2021. Baum also raised his price target for AstraZeneca (AZN), Merck's partner on Lynparza, to GBP 70 from GBP 62. He also has a Buy rating on those shares.