TD Cowen Upgrades Moderna (MRNA) to Outperform, 'The Risk/Reward And The Catalyst Path Ahead Is Favorable'

TD Cowen analyst Tyler Van Buren upgraded Moderna (NASDAQ: MRNA) from Market Perform to Outperform with a price target of $180.00 (from $150.00).

The analyst comments "COVID is approaching its tail, as evidenced by expectations for >$5B. MRNA will be a leader in RSV, and we expect flu A VE data by month's end to be superior. The PCV data at AACR/ASCO will be good and likely show a widening of RFS over time. Despite increased OpEx, MRNA should not have to raise cash. Given the catalysts ahead, shares are more likely to go to $180 than $100, and we upgrade to (1)."

For an analyst ratings summary and ratings history on Moderna click here. For more ratings news on Moderna click here.

Shares of Moderna closed at $138.29 yesterday.

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