Moderna price target lowered to $45 from $59 at JPMorgan

JPMorgan lowered the firm’s price target on Moderna (MRNA) to $45 from $59 and keeps an Underweight rating on the shares. The firm updated estimates for the company and refreshed its script trend analysis for the COVID vaccines. While the start of the U.S. vaccination season was pulled forward compared to 2023, the overall the peak is lower based on COVID vaccine trends up to mid-November, the analyst tells investors in a research note.