Evercore ISI upgrades BioNTech, says ‘chaos’ of RFK Jr.’s nomination presents buying opportunity

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Evercore ISI upgrades BioNTech, says ‘chaos’ of RFK Jr.’s nomination presents buying opportunity

Now may be the time for investors to buy shares of BioNTech , according to Evercore ISI. The investment firm upgraded the stock to outperform from in line and increased its price target by $15 to $125, which implies more than 22% upside from Monday’s close. The rerating comes after President-elect Donald Trump last week nominated Robert F. Kennedy Jr. to lead the Department of Health and Human Services. Since then, the stock has lost more than 8%. Kennedy has been skeptical of vaccines in the past, calling Covid-19 shots “a ****** against humanity.” On Monday, his cousin, Caroline Kennedy called his views on vaccines “dangerous” and said they’re rejected by his family. This “chaos,” however, presents a buying opportunity for investors, Evercore ISI Cory Kasimov wrote Tuesday. “We’ve been growing increasingly constructive for some time now,” Kasimov said to clients in a note. “The u/g call is a combination of opportunism, value (both relative & absolute), and an increasingly compelling fundamental

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around the company’s deep and staggered oncology pipeline.” In terms of standouts in its oncology pipeline, which could see 10 new approvals by 2030, Kasimov noted that the company’s ******* vaccine platforms such as iNeST and FixVac have shown early data that’s “promising.” “Sure, COVID establishes a valuation base for the company, but oncology is the key to its

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,” the analyst continued. “It’s also not like we think COVID vaccines are going away.” Analysts are mostly bullish on the stock, with 13 of 19 rating it a strong buy or buy rating, per LSEG data. Its average target of $135.95 also implies more than 33% upside from Monday’s close.

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