Moderna: Oddo BHF slashes target price

(CercleFinance.com) - While maintaining its 'outperform' opinion on Moderna, Oddo BHF has lowered its target price from $86 to $56 (cp: $35, -16.
8%), following the reduction of its short-term expectations and the adoption of a beta that is more in line with the biotech's risk.

Recalling that Moderna published on Monday an update of both its 2024 and 2025 figures, as well as its pipeline, the broker adjusts its revenue growth assumption over the 2024/28 period to 11%, from 17% initially.

Despite a perception that may be confused (biotech with development risk or pharma with sales), we continue to believe that the current valuation only marginally takes into account the breadth of the company's portfolio, the analyst moderates.


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