Moderna: Oddo BHF lowers target price
(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Moderna shares, with a target price 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 $3bn and $3.5bn (vs. at least $4bn previously).
Q2 results are good in themselves, with revenues ahead of expectations, whereas management had pre-oriented sales at around $300m in H1, Oddo BHF points out, 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, the broker concludes.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
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 $3bn and $3.5bn (vs. at least $4bn previously).
Q2 results are good in themselves, with revenues ahead of expectations, whereas management had pre-oriented sales at around $300m in H1, Oddo BHF points out, 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, the broker concludes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.