CureVac upgraded to Buy at Jefferies after mRNA platform validation

Jefferies analyst Eun Yang upgraded CureVac (CVAC) to Buy from Hold with a price target of $21, up from $9, as the analyst argues that Phase 1 data for both COVID-19 and flu vaccines "clearly show" the company’s mRNA technology works and offer validation of its mRNA platform technology despite being preliminary. Though they are behind competitors now, CureVac and partner (GSK) GSK should be able catch up in the next two to three years, Yang contends.