Topic: Upgrades

Bank of America Securities has upgraded BioNTech (Nasdaq: BNTX) to Buy raising the price target from $75 to $105

The stock opened at $92, up $3.80.  Yesterday, the Germany-based biotechnology company and Pfizer jointly announced positive preliminary results from early-stage testing of COVID-19 vaccine candidate BNT162b1. They also announced a deal to supply 30 million doses of their COVID-19 vaccine candidate to the United Kingdom once they complete clinical testing and get regulatory approval.

Citigroup has upgraded Rockwell Automation (NYSE:ROK) to Buy raising the price target from $233 to $252. 

The stock opened at $228.56, up $6.12.  The analyst believes that automation spending could help the company grow by double digits over the next 12 months.  The company is a Wisconsin-based provider of industrial automation and information technology.

Jefferies has upgraded Dropbox (Nasdaq: DBX) from Hold to Buy with a price target of $28.

The analyst cites the work-from-home trend as a catalyst for growth.  The stock opened at $21.70, up 87 cents.  In the last 52 week, the stock has traded between $14.55 and $24.97.

Roth Capital has upgraded Tesla Inc (NASDAQ: TSLA) from Sell to Neutral with a price target of $750

The stock opened at $1659, up $114.35. The stock is up nearly five-fold from its March 18th COVID19 low of $350.51. Most traders believe that the stock’s inclusion in the S&P 500 is a foregone conclusion which makes it difficult for short sellers to unload their positions.

JP Morgan has upgraded Darden Restaurants (NYSE: DRI) from Neutral to Overweight

The price target has been raised from $74 to $82 a share to reflect a 14x of the company’s 2022 EPS estimate. The stock opened at $74.31, up $2.22. According to JP Morgan, “Marketing is being given a complete re-appraisal and G&A is also being looked at now that the worst of the crisis is behind the company. Finally, DRI’s cash position allows flexibility as the crisis continues whether for a scale-benefitting well-priced acquisition or reinstatement of the dividend.”