BUZZ-Moderna falls as Morgan Stanley cuts PT
Shares of vaccine maker Moderna MRNA.O fall 1.2% to $34.04 premarket
Brokerage Morgan Stanley lowers PT on MRNA to $38 from $70; maintains "equal-weight" rating
New PT represents a 10.3% upside to the stock's last close
On Monday, MRNA cut its 2025 sales forecast by $1 bln, hurt by slow adoption of its respiratory syncytial virus (RSV) shot and weak demand for COVID-19 vaccines
Brokerage says investors will focus on whether MRNA can achieve its 2028 "breakeven target" or if it may need to raise more equity
Brokerage notes MRNA's pipeline execution, with INT program with Merck MRK.N being a "significant opportunity" and Cytomegalovirus (CMV) vaccine a "near-term focus"
MRNA fell 63.1% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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