Bayer: Liberum still a buyer, adjusts target price
(CercleFinance.com) - Liberum maintains its "buy" rating on the Bayer share, having inched its corresponding target price from 87 euros to 89 euros, while "The Roundup overhang continues to weigh on valuation with a E33bn gap to fair value, far in excess of any likely final settlement".
"Bayer has executed well on asset disposals, securing attractive valuations for Currenta and Animal Health. These cash inflows, combined with underlying business growth, should see net debt / EBITDA fall to 1.5x by the end of 2020," the broker continues.
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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.
"Bayer has executed well on asset disposals, securing attractive valuations for Currenta and Animal Health. These cash inflows, combined with underlying business growth, should see net debt / EBITDA fall to 1.5x by the end of 2020," the broker continues.
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.