What happened Shares of Moderna (NASDAQ: MRNA) were jumping 4.3% as of 11:10 a.m. EDT on Thursday, hitting another record high for the stock. The bump came after Michael Yee, an analyst at Jefferies, increased his price target on the stock from $170 to $250. Also, Dr. Marco Cavaleri, the European Medicines Agency (EMA) head of biological health threats and vaccines strategy, stated in a press conference that a committee would likely finalize a decision on recommending authorization for Moderna's COVID-19 vaccine in children by the end of next week. So what Jefferies' higher price target for the vaccine stock reflected expectations of increased sales for Moderna's COVID-19 vaccine this year. Yee now looks for the company to up its full-year revenue guidance to $21 billion. It previously projected sales of $19.2 billion. Image source: Getty Images. The EMA's decision on authorization of the vaccine in immunizing children ages 12 to 17 could play a key role in driving higher sales. Although there are many more adults in the European Union than children, the pediatric market presents a big opportunity for the company. Neither of these news items, however, were compelling reasons for Moderna's shares to move higher. Jefferies' price target is actually lower than its current share price. Also, Cavaleri's comments about the pending decision by an expert committee didn't provide any hints as to what the recommendation would be. Now what The most important thing to watch with Moderna in the near term isn't the EMA committee announcement next week. Instead, it's the company's second-quarter update scheduled for Aug. 5. Moderna is likely to boost its full-year sales outlook in that update. 10 stocks we like better than Moderna Inc.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Moderna Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Keith Speights has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Jefferies Financial Group Inc. The Motley Fool recommends Moderna Inc. The Motley Fool has a disclosure policy.Source