Why Moderna Stock Triumphed on Thursday

The pandemic might, just might, be receding, but there's obviously still plenty of interest in coronavirus stock Moderna (NASDAQ: MRNA). This was strongly in evidence on Thursday, when the biotech's stock leaped almost 5% higher on the back of an upgrade from a prominent financial institution.

Thursday morning, Deutsche Bank analyst Emmanuel Papadakis cranked his Moderna recommendation one full notch higher, from hold to buy, at a price target of $165 per share. Even after the stock's subsequent pop, this implies upside of almost 17%.

Papadakis is encouraged by Moderna's plans to roll out a triple vaccine for Covid, the flu, and respiratory illness RSV in the second half of this year.

Source Fool.com