Moderna: Oddo maintains buy rating
(CercleFinance.com) - Moderna's management yesterday provided an update on its business ahead of the publication of its 2022 annual results (in February).
Oddo says that management announced sales of around 18.4 billion dollars, slightly below the 19 billion dollars expected by the consensus for 2022 (Oddo estimates 18.7 billion dollars).
The second notable point concerned R&D investments. Moderna will be more aggressive next year to advance the 36 molecules currently in the clinic as quickly as possible. It aims to increase R&D costs from an estimated 3.3 billion dollars in 2022 to 4.5 billion dollars in 2023 (vs. $3.5bn for the CS).
Oddo confirms its Outperform rating on the stock with a target price of 282 dollars.
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