HSBC Downgrades Moderna to Reduce, Raises Price Target to $86
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Yifeng Liu downgraded Moderna (MRNA) from Hold to Reduce but raised the price target from $75 to $86.
February 26, 2024 | 11:50 am
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Moderna was downgraded by HSBC from Hold to Reduce, although its price target was increased from $75 to $86.
The downgrade to Reduce suggests a bearish outlook on Moderna's stock by HSBC, indicating a potential decrease in stock price in the short term. However, the increase in price target to $86, up from $75, provides a somewhat mixed signal, suggesting that while the stock might face downward pressure, HSBC sees some underlying value not previously accounted for. This mixed signal could lead to short-term volatility in Moderna's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100