Investing.com -- Morgan Stanley slashed its price target on Moderna Inc (BMV:MRNA) (NASDAQ:MRNA) to $38 from $70 given the lowered revenue guidance and ongoing competitive pressures in the vaccine market.
The firm noted Moderna's reduced 2024 sales forecast of $3.0–$3.1 billion, down from $3.0–$3.5 billion, driven by declines in Spikevax (COVID vaccine) sales and minimal contributions from mRESVIA (RSV vaccine).
Challenges such as declining vaccination rates and regulatory uncertainties for manufacturing plants in key markets like the UK, Canada, and Australia also impacts the company, with Moderna also cutting its 2025 revenue outlook to $1.5–$2.5 billion.
Investor are concerned over Moderna's ability to meet its 2028 cash breakeven target amid rising competition and uncertainties in its pipeline execution.
Cost-cutting measures, including a $1 billion reduction in 2025 cash expenses, are expected to improve operational efficiency, but Morgan Stanley (NYSE:MS) remains cautious about Moderna's near-term prospects.
Brokerage maintained its “Equal-weight” rating on Moderna. “While we believe there is long-term upside for Moderna, we believe the signicant valuation increase associated with the success of the COVID-19 vaccine limits the near-term upside.”
Related Articles
Moderna target nearly halved by Morgan Stanley on weak guidance
Swiss Defence Minister Viola Amherd resigns
Turkey stocks higher at close of trade; BIST 100 up 0.25%
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。