Barclays downgraded Moderna (MRNA) to Equal Weight from Overweight with a price target of $45, down from $111, post the Q4 report. The firm continues to believe in Moderna’s “differentiated” platform, but sees limited share upside due to policy risk and lack of other major clinical catalysts. Macro environment uncertainties and vaccine policy risk in the U.S., as well as lack of other major clinical catalysts in near term, will limit upside in Moderna shares, the analyst tells investors in a research note.
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