NEW YORK (dpa-AFX Broker) - U.S. investment bank Morgan Stanley upgraded Merck KGaA to "overweight" from "equal-weight" and raised its price target to 230 euros from 198 euros. Analyst James Quigley and colleague Mark Purcell expect investors to rotate from defensive to cyclical and high-growth pharmaceutical stocks in an industry report released Friday. Merck is one of them, they said. In particular, investors are likely to increasingly favor companies with a higher dependence on the life science business, they suggest. In the biopharma sector, on the other hand, they expect investors to take a more defensive approach./tih/edh

Publication of the original study: 06.01.2023

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