BioNTech price target lowered to $90 from $99 at JPMorgan

JPMorgan analyst Jessica Fye lowered the firm’s price target on BioNTech to $90 from $99 and keeps an Underweight rating on the shares. The analyst updated the company’s model to reflect the Q4 earnings results and 2024 guidance. The firm believes downward revisions to long-term estimates and protracted time lines to meaningful pipeline readouts could hinder the stock’s ability to recover.