Analyst Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on BioNTech SE and increased the price target to $134.00 from $126.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors that highlight BioNTech SE’s strategic positioning and growth potential. The company’s robust COVID-19 revenues have exceeded expectations, providing a strong financial foundation to support its transition into oncology. This financial stability is crucial as BioNTech continues to innovate with variant-adapted boosters and combination vaccines, despite potential risks associated with US booster adoption and policy changes.
Furthermore, BioNTech’s ambitious plans for BNT327, particularly in addressing PD-L1 resistant tumors, underscore its commitment to becoming a leader in immuno-oncology. The collaboration with Bristol Myers Squibb and the exploration of chemo-free regimens enhance the developmental and commercial prospects of BNT327. Additionally, BioNTech’s mRNA vaccine platforms, including FixVac and iNeST, remain pivotal, with upcoming data expected to validate their long-term commercial viability. These strategic initiatives, coupled with a strong management team, support the Buy rating as BioNTech navigates its future growth trajectory.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $133.00 price target.