"Moderna's Stock Surge: Analyst Upgrades and Potential New Products Fuel Optimism for Recovery"
Oppenheimer & Co analyst Hartaj Singh upgraded Moderna's stock to "Outperform" with a $142 price target, leading to a 13% increase in share value. Singh's optimism is based on the belief that COVID-19 vaccine sales have bottomed out and will fund Moderna's pipeline, which includes promising catalysts in 2024 such as RSV and flu vaccines using mRNA technology, as well as potential cancer vaccines. Additionally, Moderna's CFO has linked future operating expenses to sales, suggesting a decrease in OpEx in 2024 and 2025. Singh also notes Moderna's high performance culture and the importance of the upcoming years for the company's commercial success.