Bayer: Berenberg still on 'hold', TP E30

(CercleFinance.com) - On Monday, Berenberg renewed its 'hold' recommendation and E30 target price for Bayer shares (cp: E26.
1, -3.5%).

The analyst believes that the German chemical group's decision to reduce its dividend and the favourable outcome of the Erickson PCB trial in the US have staved off the worst-case scenario.

These fears notably included the possibility of a capital increase, the broker says.

However, despite everything, the outlook for earnings remains far from optimal, Berenberg adds.


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