Bayer: Liberum reiterates 'buy' rating

(CercleFinance.com) - On Monday Liberum reiterated its "buy" rating on the shares of Germany's largest drugmaker, Bayer, sticking to its target price of 90 euros.


In a note to clients, the British broker says the glyphosate case has dominated the debate on Bayer, but points out that an end could soon be in sight.

In this context, Liberum expects investors' attention to shift to Bayer's pharma division and its ability to refresh the product portfolio ahead of the Xarelto patent expiry.

In light of this, Liberum says that it is bullish on the chances of approval of finerenone, the group's experimental treatment of diabetic kidney disease, seeing a multi-billion-dollar opportunity for which Bayer could prove "under-resourced."

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