BofA analyst Jason Gerberry raised the firm’s price target on Vaxcyte to $80 from $67 and keeps a Buy rating on the shares. The firm updated its discount rate to 11.5% from prior 13% to reflect a blend of Phase 2 and Phase 3 stage biopharma. The analyst believes Vaxcyte offers best-in-class share potential on additional de-risking 2024 catalysts.
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