MTSL has been ahead of the curve with aggressive price targets that have been very accurate and very profitable. I thought I'd miss PCYC until NVAX came around. When that get's bought (as MTSL predicts) then I'll have ANTH to keep me company. I recommend the letter.
Crown Jewel De-Risked – Raising BUY LIMIT and TARGET PRICE
With this cleanly positive and significant data, the NVAX RSV vaccine program has been significantly de-risked, in our view. It will be First-in-Class and Best-In-Class as no competitor is remotely close to NVAX. In fact, no one has ever been able to show proven protection with an RSV vaccine in humans before today. As a result, we believe the discount rate used for forecasting the future earnings stream falls, and therefore the NPV for Novavax also rises meaningfully with this data.
As a result of this transformative event, we are raising our BUY LIMIT to 15 (from 11) and TARGET PRICE to 20 (from 16).