Morgan Stanley raised its Moderna price target to $90 from $37, citing “initial promising Covid-19 vaccine data,” according to a Wednesday note. That’s a 26% jump from where shares of Moderna currently trade. The bank risk-adjusted its estimates following the early results of the vaccine and now sees a 65% probability of success — higher than usual for typical phase two vaccine candidates, the note said. Watch Moderna trade live on Markets Insider. Read more on Business Insider.
Morgan Stanley has boosted its price target for Moderna following “initial promising Covid-19 vaccine data” that prompted
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