** 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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