TD Cowen analyst Tyler Van Buren downgraded Moderna to Market Perform from Outperform with a price target of $125, down from $145, following the Q2 report. The analyst has conviction in the applicability of the company’s mRNA platform, but says near-term catalysts “remain light.” It is prudent to wait on the sidelines for more clarity on the “COVID tail” from the upcoming fall and winter season, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MRNA:
- Moderna sees 2023 COVID-19 vaccine sales of $6B-$8B
- Moderna reports Q2 EPS ($3.62), consensus ($3.92)
- Deutsche downgrades Moderna to Hold on low revenue visibility
- Moderna downgraded to Hold from Buy at Deutsche Bank
- Moderna (NASDAQ:MRNA) Expects Upbeat COVID-19 Vaccine Sales for 2023; Late Stage Pipeline Impresses
Questions or Comments about the article? Write to editor@tipranks.com