Morgan Stanley's biotechnology analyst Matthew Harrison said 150,000 daily new coronavirus cases are possible in the fall without better control of the virus.
The analyst has gained a wide following on Wall Street for his success in predicting the course of the pandemic and government responses.
However, the recent hot spots — Arizona, Texas, Florida and California — have shown a high rate of infection, which led the analyst to adjust to a more pessimistic view on the pandemic. "We update our scenarios to account for the higher sustained infection rate," Harrison said in a note Thursday. "Our bull [most optimistic] case reflects similar virus control to Europe while our base [most likely] case assumes a near-term plateau followed by increased spread in the fall. [About] 150,000 daily new cases are possible without better control of the virus."
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