BofA analyst Tim Anderson lowered the firm’s price target on Moderna (MRNA) to $24 from $25 and keeps an Underperform rating on the shares. Q2 total revenues were ahead of expectations, led entirely by COVID, notes the analyst, who also points out that 2025 revenue guidance was trimmed to $1.5B-$2.2B from $1.5B-$2.5B, reflecting a shift in vaccine delivery timing to the United Kingdom.
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