Goldman Sachs is optimistic on BioNTech as a result of a new oncology asset.
The bank upgraded shares of the German biotechnology firm to a buy rating from neutral.
Analyst Chris Shibutani accompanied the move by hiking his price target to $137 from $90, which implies upside of $27%.
BNTX YTD mountain BNTX YTD chart BioNTech can also support an innovative and expansive clinical development program for BNT327 that could challenge the status quo of immune-oncology regimens, Shibutani added.
Of the 19 who cover it, 12 have buy or strong buy ratings on BioNTech, LSEG data shows.
Persons:
Goldman Sachs, Chris Shibutani, BNTX