Today's most important upgrades

BofA Securities upgraded BioNTech (NASDAQ: BNTX) to Buy from Neutral with a price target of $239, given the near-term potential for upside coming from expanded opportunities for the COVID vaccine, de-risking of the growing oncology pipeline, and a robust platform with several shots on goal backed by a strong cash position.

Baird upgraded VeriSign (NASDAQ: VRSN) to Outperform from Neutral and raised its price target to $265.00 from $216.00 as it believes investor focus could turn towards upcoming contract renewal (2024) and the durability and growth of free cash flow in an otherwise difficult software tape.

Morgan Stanley upgraded Verizon Communications (NYSE: VZ) to Overweight from Equalweight and raised its price target to $44.00 from $41.00 as it sees room for improved operational performance in 2023 and free cash flow ramping 45% by 2024.

BofA Securities upgraded Radian Group (NYSE: RDN) to Buy from Neutral with a price target of $24.00 following recent weakness in the stock. Shares were up more than 2% intra-day today.

By Davit Kirakosyan

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