Will Moderna Stock Surge to $90?
Moderna's (NASDAQ: MRNA) incredible 240% rise so far this year is just one stage of what will be a longer climb for the market-crushing stock.
So say analysts at Morgan Stanley, who reiterated their overweight rating on Moderna's shares Wednesday. The investment bank boosted its target price on the stock by a staggering 143%, to $90 per share, after the biotechnology company released positive data from its phase 1 study for mRNA-1273, its coronavirus vaccine candidate. Morgan Stanley's new price estimate represents potential gains of around 36% for investors, based on the price at which Moderna's shares are currently trading.
Source Fool.com