Bayer: Commerzbank remains a buyer.
(CercleFinance.com) - Commerzbank on Monday reiterated its "buy" rating on Bayer, with a target price of 124 euros, ahead of its acquisition of Monsanto and a better performance in pharmaceuticals.
While Pharma volume growth disappointed in the second-quarter, with growth of just 4.7% compared to 7.8% in the first quarter, the brokerage firm says it expects the business to pick up again, returning to growth in the second half of the year.
Commerzbank also continues to expect the deal with Monsanto to close in 2017, with earnings growth to be boosted next year (double-digit percentage growth in adjusted EPS accretion estimated in 2018).
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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.
While Pharma volume growth disappointed in the second-quarter, with growth of just 4.7% compared to 7.8% in the first quarter, the brokerage firm says it expects the business to pick up again, returning to growth in the second half of the year.
Commerzbank also continues to expect the deal with Monsanto to close in 2017, with earnings growth to be boosted next year (double-digit percentage growth in adjusted EPS accretion estimated in 2018).
Copyright (c) 2017 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.