Morgan Stanley said in a research note that it lowered its Moderna (NASDAQ:MRNA) price target from $205 to $185 due to increased fees and capital expenditures, while maintaining a “hold” rating. The bank noted that Moderna’s fourth-quarter results were generally in line with expectations. The higher-than-expected guidance of 35%-40% for the cost of main business in 2023 is the most concerned downside factor in the bank’s forecast. Morgan Stanley added that advance filings for personalized cancer vaccines (PCV), flu 2024 and respiratory syncytial virus (RSV) vaccines, as well as a stronger U.S. commercial coronavirus market, are potential short-term upside drivers.