BioNTech upgraded to Outperform from In Line at Evercore ISI

Evercore ISI upgraded BioNTech (BNTX) to Outperform from In Line with a price target of $125, up from $110. The firm says it has been “growing increasingly constructive for some time now.” The upgrade is combination of opportunism in the shares, valuation, and an increasingly compelling fundamental outlook around BioNTech’s “deep and staggered” oncology pipeline, the analyst tells investors in a research note.