Evercore ISI upgrades BioNTech, says ‘chaos’ of RFK Jr.’s nomination presents buying opportunity

Now may be the time for investors to buy shares of BioNTech , according to Evercore ISI. The investment firm upgraded the stock to outperform from in line and increased its price target by $15 to $125, which implies more than 22% upside from Monday’s close. The rerating comes after President-elect Donald Trump last week nominated Robert F. Kennedy Jr. to lead the Department of Health and Human Services. Since then, the stock has lost more than 8%. Kennedy has been skeptical of vaccines in the past, calling Covid-19 shots “a crime against humanity.” On Monday, his cousin, Caroline Kennedy called his views on vaccines “dangerous” and said they’re rejected by his family. This “chaos,” however, presents a buying opportunity for investors, Evercore ISI Cory Kasimov wrote Tuesday. “We’ve been growing increasingly constructive for some time now,” Kasimov said to clients in a note. “The u/g call is a combination of opportunism, value (both relative & absolute), and an increasingly compelling fundamental outlook around the company’s deep and staggered oncology pipeline.” In terms of standouts in its oncology pipeline, which could see 10 new approvals by 2030, Kasimov noted that the company’s cancer vaccine platforms such as iNeST and FixVac have shown early data that’s “promising.” “Sure, COVID establishes a valuation base for the company, but oncology is the key to its outlook,” the analyst continued. “It’s also not like we think COVID vaccines are going away.” Analysts are mostly bullish on the stock, with 13 of 19 rating it a strong buy or buy rating, per LSEG data. Its average target of $135.95 also implies more than 33% upside from Monday’s close.