Moderna: Oddo BHF lowers target price
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Moderna shares, with a target price reduced from $96 to $86.
The broker reports that, despite a qualitative Q3, the share 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 stance on vaccination programs.
The 2024 guidance adjusted at the September CMD has now been confirmed. Management is guiding the market towards sales of between $3bn and $3.5bn for the year.
We maintain our Outperform recommendation in view of the company's current valuation and market opportunities. In particular, the interim Phase 3 results in CytoMegaloVirus at the end of this year could boost the share price, it 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The broker reports that, despite a qualitative Q3, the share 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 stance on vaccination programs.
The 2024 guidance adjusted at the September CMD has now been confirmed. Management is guiding the market towards sales of between $3bn and $3.5bn for the year.
We maintain our Outperform recommendation in view of the company's current valuation and market opportunities. In particular, the interim Phase 3 results in CytoMegaloVirus at the end of this year could boost the share price, it 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.