Will Moderna Stock Surge to $90?
Moderna's (NASDAQ: MRNA) incredible 240% rise so far this year is just one stage of what will be a longer climb for the market-crushing stock.
So say analysts at Morgan Stanley, who reiterated their overweight rating on Moderna's shares Wednesday. The investment bank boosted its target price on the stock by a staggering 143%, to $90 per share, after the biotechnology company released positive data from its phase 1 study for mRNA-1273, its coronavirus vaccine candidate. Morgan Stanley's new price estimate represents potential gains of around 36% for investors, based on the price at which Moderna's shares are currently trading.
Moderna's stock could still have plenty of upside thanks to its coronavirus vaccine candidate, according to Morgan Stanley's analysts. Image source: Getty Images.
Source Fool.com
