Stifel upgraded C4 Therapeutics to Buy from Hold with a price target of $12, up from $2. The firm now sees C4 as significantly better positioned to develop CFT7455 independently and to further characterize its profile to generate strategic interest towards valuable early-line myeloma combinations. Against a backdrop of a strong balance sheet, the firm believes there is a strong risk/reward at the current share price exiting the new data.
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