Bayer: Berenberg raises target price
(CercleFinance.com) - On Tuesday Berenberg raised its target price for the Bayer share from 82 euros to 86 euros, assuming a possible out-of-court settlement regarding the herbicide Roundup.
"When a settlement to the glyphosate cases emerges, investors in Bayer will have two options," the German broker says, which has a buy rating on the share of the German chemicals group.
"They can ride the wave of euphoria likely to accompany the settlement, and promptly take profits or cut losses by selling shares," it adds in its report.
However, Berenberg also mentions a second option that is better suited to long-term investors, which would consist of waiting to enable the Leverkusen based group to resume its long tradition of value creation.
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