BioNTech (BNTX) PT Raised to $400 at Berenberg (Earlier)

Berenberg analyst Shanshan Xu raised the price target on BioNTech (NASDAQ: BNTX) to $400.00 (from $325.00) while maintaining a Buy rating.

The analyst commented, "Given the emerging data, we think a COVID-19 vaccine booster is likely required for the containment of the virus and we continue to believe that the COVID-19 vaccine (BNT162) business is an important revenue stream to BioNTech (BNTX) in the short-to-medium term. We expect the revenue from the vaccine will accelerate BNTX's innovation and provide flexibility in its pipeline development. The recent announcements of further expansion into cell therapy and the development of vaccines for other infectious diseases support this view. Further, the fast build-out of its commercial organization is unprecedented, which we believe should position BNTX to become a fully integrated biopharma company. We reiterate our Buy recommendation and increase our price target to $400 (from $235). We look forward to the company's Q2 results on August 9."

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