Moderna upgraded to market perform at SVB Securities on likely higher COVID shot pricing
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SVB Leerink has upgraded Moderna (NASDAQ:MRNA) to market perform from underperform saying that it will benefit from a likely increase in prices for COVID-19 vaccines when distribution moves to the commercial market from a federally managed system next year.

The firm boosted its price target to $101 from $74 (~15% downside based on Thursday's close).
Analyst Mani Foroohar wrote that assuming Moderna (MRNA) prices its COVID vaccine in 2023 as a rational duopolist, the move would greatly improve the company's chances of meeting its 2023 revenue guidance.
He added that phase 2 data from Moderna (MRNA) and partner Merck's (MRK) personalized cancer vaccine (PCV) expected this quarter could further strengthen the bull case.
SVB also increased its probability of success for both the PCV and respiratory syncytial virus vaccine candidates.
Read Seeking Alpha contributor William Meyers' argument for why Moderna (MRNA) is priced well for long-term investors.