** Shares of vaccine makers Moderna MRNA.O and Novavax NVAX.O down 1% and 1.3%, respectively, before the bell

** An outside panel of experts to the U.S. Centers for Disease Control and Prevention on Tuesday raised the idea of recommending updated COVID shots only for those at risk of severe disease

** Currently, CDC recommends everyone aged six months and older should receive an updated COVID shot

** Analysts at brokerages Leerink Partners and Citi said that a narrower recommendation would be risky for already declining COVID vaccine revenues for MRNA, NVAX and Pfizer PFE.N

** Shares of PFE trading flat at $22.54 premarket

** The CDC director can accept or reject the panel's recommendations, and this "critical step" will be important to monitor for any RFK Jr. impact on vaccine policy, said Leerink Partners analysts

** As of last close, PFE was down ~15%, NVAX fell ~21% and MRNA declined ~37% YTD

(Reporting by Bhanvi Satija in Bengaluru)

((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91 9873062788;))