“Wednesday's First Moves: MRNA Downgrade, BA Jet Contract, JBL Earnings”Citigroup
MRNA is a sell; Citi downgraded to Sell with $80 target (>60% downside) as the 200% rally on cancer trials is fully priced in and valuation assumes excessive future oncology success.
We view Moderna as a "sell" product. Citigroup gave it a "sell" rating today. This comes after Moderna's recent strong performance, thanks to some positive trial results . They have downgraded its rating to "Sell" from " Neutral".
At the same time, they raised the target price for the stock, but only to 80. This is a rise from 60. So, their outlook wasn't very positive before today. This means a potential drop of more than 60% from yesterday's closing levels.