Moderna (MRNA) PT Raised to $185 at Deutsche Bank

Deutsche Bank analyst Emmanuel Papadakis raised the price target on Moderna (NASDAQ: MRNA) to $185.00 (from $165.00) while maintaining a Buy rating following recent Q3 results.

The analyst commented, "In fact, the main fundamental development of late has been the significant validation of forthcoming pivotal data in melanoma by MRK’s opt-in, which we regarded as a significant positive ahead of imminently due (open label) pivotal P2 data (we remind ROG/BNTX data is due H1’23...). We derisk both PCV/RSV and lift our PT
to $185 based on 35x FY23 P/E, reiterate Buy."

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