Moderna shares are trading lower after HSBC initiated coverage on the stock with a Reduce rating and $97 price target.
Portfolio Pulse from Benzinga Newsdesk
Moderna's stock is trading lower after HSBC initiated coverage on the stock with a Reduce rating and a price target of $97.
July 14, 2023 | 3:10 pm
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NEGATIVE IMPACT
HSBC initiated coverage on Moderna with a Reduce rating and a price target of $97, leading to a drop in the stock's trading price.
HSBC's initiation of coverage with a Reduce rating indicates a negative outlook for Moderna's stock. This, coupled with a lower price target of $97, has led to a decrease in the stock's trading price. The impact is direct and significant, hence the high relevance and importance scores.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100