I am late on this one, as it came out early this morning, but Morgan Stanley (a long-standing lead banker for the Old Schering-Plough) has initiated coverage on the New Merck, with what amounts to a yawn, given the $34 price target, near term:
. . . .Merck was initiated with an equal weight rating and $34 target at Morgan Stanley. . . .
On Monday the 16th, disclosures explaining the Arbiter 6 - HALTS early termination may drop this price target -- if, as Leerink Swann expects, it will result in an additional 20 percent downbubble, in worldwide Vytorn/Zetia sales. Of ocurse I'll have reports on that, up or down, on Monday morning. Look for much editorializing on that morning.
