Canaccord lowered the firm’s price target on BioNTech to $168 from $184 and keeps a Buy rating on the shares. The firm said the majority of their valuation still remains on the COVID vaccine which is around $81 NPV/share and cash which is around $74 NPV/share, leaving significant upside potential from an increasingly de-risked COVID-19/flu vaccine and oncology pipeline addressing major commercial opportunities.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BNTX:
- BioNTech (NASDAQ:BNTX) Rises After Q3 Numbers
- BioNTech cuts FY23 CapEx view to EUR 200M-EUR 300M
- BioNTech Announces Third Quarter 2023 Financial Results and Corporate Update
- BioNTech sees FY23 Covid-19 vaccine revenue ~EUR 4B vs. prior view ~EUR 5B
- BioNTech reports Q3 EPS EUR 0.67 vs. EUR 6.98 last year