Member Info for Tambo210

Moderna (NASDAQ:MRNA) shares slipped for the fifth straight session on Friday as TD Cowen became the latest brokerage to downgrade the COVID vaccine maker, citing its outlook issued with its Q2 2023 financials.

Analyst Tyler Van Buren cuts his recommendation for the Cambridge, Massachusetts-based biotech to Market Perform from Outperform, taking his price target to $125 from $145 per share.

Similar to Deutsche Bank, which also downgraded Moderna (MRNA) on Thursday citing its guidance, Buren points to concerns over the company’s decision to increase its cost of sales guidance for 2023.

Morgan Stanley analyst Matthew Harrison lowered the price target on Moderna (NASDAQ: MRNA) to $123.00 (from $128.00) while maintaining a Equalweight rating

Jefferies drops MRNA PT from $275 to $175 (12m PT).

$100 drop!

Free cash flow before acquisitions, disposals and dividends1 = -37m

So they're using cash on hand to pay a divi? That's nuts! FCF should be positive before those payments.

Pretax profit was down 37% to GBP28.4 million, from GBP65.7 million, due to a cyber incident in January that cost GBP11.2 million.

How is 65.7 --> 28.4 equivalent to 37%? Even if I add back the 11.2, we're still a few percent off.

Their net debt rose due to 100m+ burn of cash on hand? Or they tapped the debt markets?

Who are going to be the buyers to take a £0.35 stock £0.60?

Us retails don't move the needle, its a big boys and girls.

They're not in the same league as Lloyds or Vodafone.

Lordloadsoflolly

NAV might drop by 7%, but the reputational damage would result in an even large discount to NAV.

Gloucester10

Yes....Most of us know that. What's unfortunate for us SMT holders is BG have continued to buy $MRNA all the way up to $200/s without acknowledging that the revs from this pipeline is years off. Hence their $15bn warchest is being whittled down on expensive R & D (necessary), but COVID revs are on the decline and will do so, unless there's a meaningful mandate to vaccinate an entire demographic of the population. Vaccinating against common flu is not mandatory, especially if you have to pay £10+ a shot every year. Ditto for COVID. The SP was ramped up on hype post COVID. That needs to deflate before we see a trough in MRNA sp.

Unfortunately, the MRNA stake held by SMT will continue to pull back the SMT NAV until it finds that trough in the years before the pipeline generates revenues which rise for the company.

You can go ahead an buy on your own free will, but its pretty obvious to some of us that the SMT fund team at BG bought into the 'MRNA can only go up story'.

You won't see revs grow for $MRNA as a whole, until post 2026. I've got a buy order for $MRNA stock with a buy price of $60. If it catches, then great! If not, then I don't think I care given a number of funds I owed have various percentages invested in MRNA.

@busicat

US debt rating was downgraded a notch. Stocks looking to get slammed today.

JPMorgan cuts Legal & General price target to 315 (355) pence - 'overweight'

Honestly! What's the catalyst to reach £2.75 in 12m let alone £3.15?

@Roxbury

SOrry, reading through your scenarios on debt management, what's your assumption regarding capex in every year through to end of 2026?

Supuser79

" I'm bitter apologies, but I'm at 3.04 average."

Spare a thought for some of us with 19.34 average!

Dontshootme

Unfortunate about bailing L&G Global tech fund.

Have to say a worse investment than SMT is Ballie Gifford Global Discovery Fund.

SMT has at least recovered a little. The BG fund is so poor, I'm expecting them to close it due to poor performance.

Antonvb

"If the Kenyan government didn't pay or abide by it's own laws then they can forget about any future foreign investment ".

Chinese and Russians are always willing to turn a blind eye just to annoy the West.

PANG

"It,s gone if TLW do not find a partner to move forward with project." - Tap the debt markets to fund the development?

@Dontshootme

WELL SAID!

Comparing L&G Global tech index fund (Acc) with SMT.

YTD: +38% vs -3%

1Yr : +23.5% vs -13.6%

3yrs :+ 57% vs -20.9%

5Yrs : 142% vs 29%

"Basically if Kenya pull the plug TLW will bill them"

LOL! Good luck with that. Small time TLW taking on a foreign government.

How is any court going to enforce a fine if Kenya basically turn their back on any money owed?

Join the queue is what the response will be.

@fela96

" Gates' work on disease prevention is more admirable though I'm not sure how much success he's had with it"

Specific to the eradication of Polio, he and Melinda have been key to the drive regardless of how much of their own wealth they've put in.

"…there should be a moratorium of a month after joining before being allowed to post on a BB. A sort of scum filter lol."

Very Clique!

Scrodingerscat

I'm fully aware of how contracts work in the UK.

But in Iraq, Iran, Kenya, Russia, Ghana, Egypt etc, things run a little differently.

Kenya owes some $6.4bn to China in bilateral debt. China would happily develop the field (for cheaper than what TLW is probably quoting) and wipe some of the debt. China couldn't careless if TLW walked away from the field. China can strongarm the Kenyan government in return for more money to fund Government plans (+ a bit of extra for you know who...oink oink!)

Let's conclude this. I'll be happy when I see that $2bn in TLW's coffers with no exceptions.