Top Covid-19 vaccine makers Moderna Inc. and BioNTech SE are extending this year’s stock rally ahead of new guidance on the need for boosters. Pfizer plans to seek regulatory clearance for a third shot of its vaccine while Moderna still needs to determine its dosage before filing. The agency is expected to release its strategy for boosters as soon as September, according to a Wall Street Journal report. Still, the sky high valuations on these stocks are facing unexpected resistance on Wall Street. While Yee rates Moderna a hold with a price target of $425, below the current trading range, he expects booster shots to be available by 2022.

Source: Mint August 10, 2021 10:52 UTC