The Week That Was: Jefferies Still See-Sawing On Merck

I suspect this slight down-beat was due to BMS's Opdivo^® receiving an FDA lung cancer (NSCLC) nod, during the past ten days. It marginally erodes Merck's market cap potential. But only marginally.

Jefferies' Seamus Fernandez is unlikely to alter his views very much on Merck, or BMS (or J&J, for that matter) in the near term. He has bounced it around, quite a bit, from $65 to $60 -- with one stop north of there, only -- in the last 24 months. Here's a bit, from a reprint of an earlier time:

. . . .Jefferies Group has also taken action a number of other healthcare stocks recently. The firm lowered its price target on shares of Merck & Co., Inc. from $63.00 to $62.00. They have a hold rating on that stock. Also, Jefferies Group raised its price target on shares of Johnson & Johnson from $108.00 to $110.00. They have a hold rating on that stock. . . .

So -- really no news at all. And so, we waited until Sunday morning to note it, casually, over coffee, juice and a banana.