Novavax Stock Upgraded: 3 Things You Need to Know
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope.
At long last, the leaves are changing colors. There's a chill in the air, trick-or-treaters on the streets, and on Wall Street in particular, it's time to start picking flu vaccine stocks.
At least, that seems to be how Citigroup sees things. This morning, the megabanker announced it is upgrading shares of flu vaccine R&D specialist Novavax, Inc. (NASDAQ: NVAX). Not only that, but Citigroup is assigning Novavax stock a $1.60 price target, which implies 45% upside for investors who buy this $1.10 stock today.
Source: Fool.com