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Fly News Breaks for January 27, 2016
MRK
Jan 27, 2016 | 08:36 EDT
As previously reported, BofA/Merrill downgraded Merck to Neutral from Buy and lowered its price target to $55 from $63 on shares. The firm sees a lack of risk/reward catalysts in 2016 and said key franchises are facing worsening headwinds over the next 3-5 years, with no offset from new product launches. BofA/Merrill limited incentives to own Merck right now and sees risks of shares being used as a source of funds.
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