(News Bulletin 247) – Jefferies remains Buy on Moderna shares and maintains its target price of $275.
The good first quarter is underlined by the broker who does not forget the announcements to come from Moderna and the ongoing negotiations for upward agreements. “We believe there is room for a rebound in the second half on this basis,” adds the analyst.
‘Our valuation includes over $15 billion in cash at year 23, over $25 billion for the COVID vaccines business and over $60 billion for the pipeline/platform, given the positive data on PCV and positive interim data on influenza vaccine, ‘recaps Jefferies.
Advances in the fields of vaccines are noticed by the analyst. ‘ They would generate a revenue stream of more than $10 billion and a turnover of 5 to 6 times higher than the previous year, or a market capitalization of $60 to 70 billion. ‘
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