Moderna: Oddo BHF lowers its target price on the stock

(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Moderna shares, with a price target reduced from $155 to $125 to reflect new COVID market assumptions.


Yesterday, Moderna published its Q2 2024 results, which led to a downward adjustment of its 2024 expectations. Management is now guiding the market towards sales of between $3 and $3.5 billion (vs. at least $4 billion previously).

Q2 results are good in themselves, with revenues ahead of expectations, whereas management had pre-oriented sales at around $300 million in H1", points out Oddo BHF, which notes that "the market has quite logically focused on the launch of its respiratory syncitial virus vaccine and the evolution of the COVID market".

The approval [of the] seasonal influenza vaccine and the end of recruitment for mRNA-4157 should reassure investors as to the Group's ability to diversify its revenues", concludes the broker.

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