Moderna price target raised to $160 from $135 at RBC Capital

RBC Capital analyst Luca Issi raised the firm’s price target on Moderna (MRNA) to $160 from $135 and keeps an Outperform rating on the shares after the company’s RSV vaccine got approved with what the firm thinks is “a clean label” that does not cite risk of Guillain-Barre and highlights ease of administration. The firm thinks “this is great news” for Moderna given Pfizer (PFE) and GSK (GSK) are “off to a very impressive start” with $2.5B in revenue since their launch last fall. RBC thinks Moderna has “a competitive product,” the analyst added.