BioNTech Shares Fall After BMO Downgrade and Price Target Cut

BioNTech SE shares declined in premarket trading following a downgrade from BMO Capital Markets. The analyst firm lowered its rating from Outperform to Market Perform and reduced its price target to $105 from $128, citing weakened global demand for COVID-19 vaccines and ongoing inventory reductions in Germany as primary factors influencing the revised assessment.
The downgrade action arrived in the wake of clinical developments announced in late August. BioNTech and Roche’s Genentech unit