Morgan Stanley Upgrades Merck & Co., Inc. to Overweight

Merck & Co., Inc. (NYSE:MRK) has been upgraded by Morgan Stanley from an 'equal weight' rating to an 'overweight' rating in a research note issued on Thursday.

The firm currently has a price target of $179.00 on the stock, up from their previous price target of $116.00, suggesting a potential upside of 17.60% from the company's previous close.

This upgrade is part of a series of changes to the stock's rating and price target, with several other analysts also issuing reports on Merck & Co., Inc.

Despite this, Jefferies downgraded the stock from 'strong buy' to 'hold', citing a more cautious analyst view after the stock's strong run toward its 52-week high.