Deutsche Bank analyst Gregg Gilbert lowered his price target for Merck (MRK) to $59 from $62 citing expectations for more competitive pressure on Zepatier and Zostavax.

The stock closed Wednesday up 10c to $54.37. Demand trends for Merck’s hepatitis C virus drug Zepatier have continued to decline as AbbVie’s (ABBV) Mavyret has gained traction, Gilbert told investors in a research note. The analyst also assumes “significant pressure” on Merck’s shingles vaccine Zostavax from the near-term competitive launch of GlaxoSmithKline’s (GSK) Shingrix.

Gilbert views Merck’s risk/reward as fairly balanced and he keeps a Neutral rating on the shares.