Argus Research Upgrades Moderna to Buy, Sets $180 Price Target

According to Wallstreetcn, Argus Research Corp. upgraded Moderna Inc. from Hold to Buy, citing positive melanoma vaccine data and further upside potential in the stock, and set a $180 price target. Analyst Jasper Hellweg said cancer vaccine data brought upside, noted that MRNA shares have fallen more than 70% from their all-time high and have underperformed the benchmark index over the past five years, and said there is still additional upside potential beyond the recent data-driven rally. He added that confirmatory data could push MRNA shares higher and that a Buy rating is appropriate now. Bloomberg-compiled data show MRNA has five Buy ratings, 16 Hold ratings and two Sell ratings.