From Alphastreet - Earnings Decoded. Market Intelligence Delivered · AlphaStreet Newsdesk · · 50s
Moderna Shares Jump After Citigroup Downgrade
Moderna stock surges 6.7% as Citigroup lifts price target to $80.
In brief
Moderna stock surges 6.7% as Citigroup lifts price target to $80. Moderna shares rose 6.7% to $202.70 after Citigroup raised its price target by 33.3% to $80, maintaining a Sell rating. Originally reported by Alphastreet - Earnings Decoded. Market Intelligence Delivered.
Moderna Shares Jump
Moderna shares jumped 6.7% Monday to close at $202.70 after Citigroup raised its price target by 33.3%.
Price Target Revised
The Citigroup revision moved the firm’s target from $60 to $80, though analysts maintained their Sell rating.
Heavy Trading Volume
The biotech company saw 10.8M shares change hands as investors responded to the analyst action.
Market Capitalization Boost
The day’s move added substantial value to Moderna’s $80.9B market capitalization.
M&A Signals
Investors are now focused on whether momentum can sustain itself and what catalysts might emerge from rumored strategic activity.
The big picture
Moderna shares rose 6.7% to $202.70 after Citigroup raised its price target by 33.3% to $80, maintaining a Sell rating.
