Bayer: Jefferies still a buyer; target price of 145 euros.

(CercleFinance.com) - On Monday Jefferies maintained its "buy" rating on Bayer with a target price of 145 euros, expecting "more earnings momentum and investor demand.
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In its research report, the broker said that it has raised its 2017 estimates to the upper end of guidance, as it expects "another upgrade as early as the second quarter."

While Jefferies sees increased investor demand for models and discussion on Bayer, the broker notes that many investors think that they should wait for the rights issue to end before buying.

However, despite everything, the broker wrote in the report: "With strong earnings momentum expected and no fundamental reason to wait for the rights issue, we strongly advise investors to buy now."


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