Before buying this beaten-down stock, gaining valuable knowledge about its operations is a good idea.
BioNTech (NASDAQ: BNTX) has turned in a dismal performance so far this year. The average analysts' price target reflects an upside potential of 56%. Granted, not every analyst is all that bullish about BioNTech.
Year to date, tech stocks are still on track for a banner year, but some of the air in the rally has come out over the last month or two. Enthusiasm about artificial intelligence (AI) may have peaked, and the Federal Reserve has promised to keep rates higher for longer, likely slowing down the economy further. Few tech stocks have performed worse than PayPal Holdings (NASDAQ: PYPL) lately.