Moderna is expected to highlight progress in international COVID-19 vaccine markets in its Q1 2026 results, with Bank of America noting the winding down of the 2025-2026 US vaccine season. The company has reduced litigation risks after a $950 million upfront payment, though additional payments up to $1.3 billion may still occur. Moderna plans to offset US vaccination declines with its higher-priced mNEXSPIKE product, while international agreements, such as a $200 million UK COVID booster deal, are seen as significant growth drivers. Bank of America projects about 7% blended revenue growth in 2026, with total Q1 revenues expected at $305 million. Investors will also watch for updates on influenza vaccine submissions and data on Moderna’s candidate intismeran. Despite these prospects, Bank of America maintains an ‘Underperform’ rating and a $31 price target, noting shares have risen ahead of key updates.
