HSBC upgrades Moderna to Buy on pipeline potential

HSBC analyst Yifeng Liu upgraded Moderna (MRNA) to Buy from Hold with a price target of $58, down from $82. The recent share price weakness reflects worries over the company’s path back to growth story, the analyst tells investors in a research note. The firm says that if Moderna’s existing key pipeline products manage to launch successfully and RSV-vaccine recommendation pressure eases, there could be attractive upside potential for the stock.