Investors will not be fully appreciating the broader uses of Moderna’s mRNA vaccines, creating ample buying opportunities, UBS said on Monday. The bank upgraded Moderna to purchase from neutral. UBS lowered its price goal to $191 from $221, although the new forecast calls for a 61% increase from Friday’s close. Moderna shares struggled in 2023, losing greater than 34%. YTD Mountain Moderna’s MRNA shares have fallen nearly 35% this yr. UBs analyst Eliana Merle noted that while the long run of the Covid-19 market is uncertain – thus putting revenue into query in 2023 – a fall within the share price might be a possibility to purchase, because it only takes into consideration the downside risk from coronavirus vaccines without the potential advantages of other products. Merle pointed to respiratory syncytial virus, influenza and cytomegalovirus vaccines as promising growth aspects for the corporate. “We consider MRNA’s CMV vaccine could possibly be a serious potential growth driver in the following 1-2 years, with a limited price (leading cause of birth defects, no approved vaccines),” Merle said. “We predict latent viruses might be big [opportunity] for mRNA (high public health needs, no effective vaccines) and success in CMV would have reads in other programs (e.g. EBV).” — Michael Bloom of CNBC contributed to this report.