Bayer: Barclays raises target price
(CercleFinance.com) - Barclays has raised its target price for the Bayer share from 80 euros to 85 euros, after fourth-quarter results that were "mixed," but also "well received by the market.
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In its report, the broker mostly retains the German drugs and crop chemicals group's "constructive" comments around planned disposals and buybacks.
"The conglomerate structure will remain a handicap but at about 10x forward P/E (9x EV/EBITDA) that is a moot point," Barclays said, maintaining its "overweight" on the share.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
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In its report, the broker mostly retains the German drugs and crop chemicals group's "constructive" comments around planned disposals and buybacks.
"The conglomerate structure will remain a handicap but at about 10x forward P/E (9x EV/EBITDA) that is a moot point," Barclays said, maintaining its "overweight" on the share.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.