BMO Capital analyst Etzer Darout initiated coverage of BioNTech with an Outperform rating and $127 price target. BioNTech realized massive growth during the COVID-19 pandemic, but the stock has pulled back significantly on COVID-19 uncertainties, the analyst tells investors in a research note. The firm believes COVID-19 overshadows an emerging oncology pipeline that can deliver meaningful share upside on clinical de-risking of mid and late-stage programs in 2024 and 2025.
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