Bayer: in line with broker estimates
(CercleFinance.com) - Bayer is up 1% in Frankfurt, outperforming a stable DAX, on the back of reassuring remarks from Liberum, which reconfirms its 'buy' recommendation and its target price of 90 euros for the German chemicals and pharmaceutical group's share.
Although its estimates for 2019 have gone down for the agricultural division because of abnormally humid conditions affecting the Midwest of America, the broker considers that this exceptional circumstance shouldn't affect future years.
UBS sticks to 'buy' with a target price maintained at 110 euros for Bayer, considering that “a potential path to settlement in the Roundup litigation is the most significant driver of Bayer's valuation”.
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Although its estimates for 2019 have gone down for the agricultural division because of abnormally humid conditions affecting the Midwest of America, the broker considers that this exceptional circumstance shouldn't affect future years.
UBS sticks to 'buy' with a target price maintained at 110 euros for Bayer, considering that “a potential path to settlement in the Roundup litigation is the most significant driver of Bayer's valuation”.
Copyright (c) 2019 CercleFinance.com. All rights reserved.