Moderna is down nearly 6% in London, after Oddo BHF reduced its price target from $96 to $86.
The broker reports that despite a qualitative Q3, the stock remained under pressure at the end of the week.
The analyst cites the slower-than-anticipated ramp-up of its RSV vaccine, the commercial launch of its COVID/seasonal influenza vaccine scheduled for the 2026 season and, of course, questions about the future US government's position on vaccination programs.
The 2024 guidance adjusted at its September CMD has now been confirmed. Management is guiding the market towards sales of between $3 and $3.5 billion for the year.
'We maintain our Outperform recommendation in view of the company's current valuation and market opportunities. The interim phase 3 results in CytoMegaloVirus at the end of this year could in particular boost the share price", concludes Oddo BHF.
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