Key Stats for Moderna Stock

• Price change for Moderna stock: -7%
• $MRNA Stock Price as of Jul. 8: $74
• 52-Week High: $86
• $MRNA Stock Price Target: $48

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What Happened?

Moderna (MRNA) stock dropped 7% today after Morgan Stanley reiterated its “equal-weight” rating on the company. That rating essentially means the firm isn’t strongly bullish or bearish; it’s a neutral stance.

What’s interesting is that Morgan Stanley actually raised its price target on Moderna stock to $39 from $33, an 18% bump, citing higher expectations for the company’s COVID and flu vaccine sales.

So why would…