Moderna Stock Is Upgraded on Growth Opportunities Not Related to Covid

Moderna


was rising Monday after an analyst at Jefferies upgraded the stock citing confidence in the vaccine maker’s growth opportunities that aren’t related to the Covid-19 vaccine.

Jefferies analyst Michael Yee upgraded shares of Moderna (ticker: MRNA) to Buy from Hold and increased his 12-month price target on the stock to $275 from $170. For Moderna, Yee said he sees a “significant new pipeline story and catalysts ahead.”