BofA lowered the firm’s price target on Moderna (MRNA) to $21 from $24 and keeps an Underperform rating on the shares. The firm’s 2025 revenue estimates increase by 3% due to higher-than-expected COVID sales in Q3 and its 2026 revenue view increases by 6%, but beyond 2026 its estimates decrease by mid-to-high teens percentages due to the removal of revenues attributed to mRNA-1647 in congenital CMV, the analyst tells investors.
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