Moderna price target lowered to $60 from $105 at Evercore ISI

Evercore ISI analyst Cory Kasimov lowered the firm’s price target on Moderna (MRNA) to $60 from $105 and keeps an In Line rating on the shares. Based on “a thorough model review,” guidance cuts from R&D Day, and Fall 2024 vaccination trends, the firm is lowering its price target on Moderna shares. Street sentiment “clearly remains depressed” as investors focus on evolving COVID and RSV dynamics and “what could eventually turn things around,” the analyst says.