(News Bulletin 247) – Jefferies remains long on Moderna shares and maintains its target price of $275.
‘ Investors remain cautious and assume COVID vaccine sales are down, there is no conviction for RSV (respiratory syncytial virus) and influenza, and there are no catalysts ‘, notes the analyst.
Instead, Jefferies thinks the stock should eventually rebound and rise again, but under certain conditions: ‘if the company manages to meet its targets this year; whether competitors and Moderna gain traction in the VRS market; whether new PCV cancer data becomes available in the second half of the year and whether combination vaccines start phase III in the future’.
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