Valneva Surges on Positive Broker Comments

Valneva jumps nearly 8%, buoyed by favorable commentary from Stifel, which reiterates its "buy" recommendation and raises its price target from 9.5 to 10 euros, as investors await results from a Phase III study for VLA15 in Lyme disease.

"The vaccine has a validated mechanism of action and has already demonstrated robust antibody responses in Phase II, with no safety concerns, making us confident in the study's results," the broker stated.

Stifel considers this catalyst to offer a compelling risk-reward profile. "Valneva shares present one of the most attractive risk-reward profiles in the European biotech space," it further assesses.