Bernstein upgraded Beam Therapeutics (BEAM) to Outperform from Market Perform with a price target of $37, up from $35. The firm, which believes the upcoming AATD readout will be “positive” and thinks good data could be worth about $1-2B in incremental enterprise value, or about 50% to 100% upside for the stock, applies a higher multiple to “better capture peak potential of the company’s products,” the analyst tells investors.
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