BMO Cuts PT on BioNTech to $128, Citing Uncertainty Ahead of Key Data

BMO Capital cut its price target on BioNTech SE (BNTX) to $128 from $143 and reiterated an Outperform rating. The firm cited uncertainty ahead of BioNTech's "major year for data" and the new leadership's impact on the vast mid-to-late-stage pipeline. Morgan Stanley also cut its price target to $125 from $134 and maintained an Overweight rating, citing the stock's undervaluation ahead of data read-outs.