Morgan Stanley Maintains Equal-Weight Rating and $34 PT on Merck & Co

A report from Morgan Stanley reiterates its Equal-Weight rating and $34 price target on Merck & Co

. The report states, “Management expects eight new drug applications in 2012-2013 and seven in 2014, highlighted key products in the pipeline, and described how they are improving ROI over the long term... Merck believes that the true opportunity in Alzheimer's is before disease develops and they will develop a diagnostic test to identify people at high risk.” MRK closed yesterday at $34.47.