Moderna (MRNA) Price Target Lowered to $200 at Cowen, Analyst Cites Development Risks of Flu, RSV and CMV Programs

Cowen analyst Tyler Van Buren lowers his price target on Moderna (NASDAQ: MRNA) to $200 from $250, while maintaining a "Market Perform" rating, as he models higher risks associated with development of the flu, RSV, and CMV programs.

The analyst quotes: "Our Q4 EPS estimate is now $10.00 (+30% Q/Q). Our (2) rating remains, but we are lowering our DCF-based price target from $250 per share to $200 per share, as we increase our discount rate to a more appropriate 13% to account for the development risk with the flu, RSV, and CMV programs."

Shares of Moderna are trading over 2% higher in pre-market, in the $160 area.

Written by Vlad Schepkov | [email protected]

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