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Fly News Breaks for February 27, 2020
Feb 27, 2020 | 11:47 EDT
JPMorgan analyst Cory Kasimov raised the firm's price target on Moderna to $32 from $24 and keeps an Overweight rating on the shares. Even though he tells investors that Moderna's Q4 earnings report and associated call were "relatively uneventful" and the ultimate commercial opportunity for its Covid-19 vaccine candidate is "unlikely to be substantial," Kasimov also believes the rapid turnaround illustrates the potential power of the company's platform and he expects near-to-medium term progress to "gradually inform the possibly disruptive capabilities of this company."