JPMorgan Chase Raises Moderna Price Target to $77.00 Amid Analyst Upgrades

Moderna's (NASDAQ:MRNA) price target was raised to $77.00 by JPMorgan Chase & Co., from a previous estimate of $40.00. This indicates a potential downside of 48.18% from the company's recent close.

The brokerage currently has an 'underweight' rating on the stock, which suggests that it is not recommended for investors seeking long-term growth.

This development comes after several other equities analysts have commented on Moderna, with some upgrading their ratings and increasing their price targets. William Blair, for example, upgraded shares of Moderna from a 'market perform' rating to an 'outperform' rating, while UBS Group increased its target price from $50.00 to $150.00.

Despite the positive developments, it's worth noting that some analysts have expressed caution about Moderna's valuation and regulatory approval for its products.