Moderna: Oddo BHF slashes target price

(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Moderna shares, although has slashed its target price for them from $205 to $118, after updating its model to take into account short- and medium-term expectations provided by management.


While the "post-pandemic transition is taking its toll", the broker stresses that Moderna is still aiming to launch 15 new mRNAs over the next 5 years, to achieve between $8bn and $15bn in sales for its respiratory franchise.

Oddo BHF says that the next launch against respiratory syncitial virus, which is scheduled for 2024, i.e. a few months after Pfizer and GSK, should reassure investors, who will no longer see Moderna as essentially a Covid 19 player.


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