** Merck MRK.N said on Tuesday it would not ship its HPV vaccine Gardasil in China until at least the middle of this year due to weak discretionary spending, a move that dented its full-year forecast
GARDASIL WOES LOWER CONFIDENCE
** J.P.Morgan ("Overweight", PT: $130) says the Gardasil update is disappointing but broader story largely unchanged
** UBS ("Buy", PT: $120) says robust Q4 cancer drug Keytruda sales were not enough to offset Gardasil business miss
** BMO Capital Markets ("Market Perform", PT: $96) says "Gardasil cut lowers confidence"
** Merck shares' 9% decline on Tuesday was not just due to change in expectations for Gardasil, but also reflects multiple changes to the company's outlook for the vaccine, which has hit management credibility - BMO
** Leerink Partners("Outperform", PT: $113) says Merck sell-off on Tuesday was an over-reaction, fueled by investor loss of confidence in management's understanding of their situation in China with Gardasil
(Reporting by Siddhi Mahatole)
((siddhiprabhanjan.mahatole@thomsonreuters.com))
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