Bayer: Liberum starts coverage with 'buy'
(CercleFinance.com) - Liberum on Thursday initiated coverage of the stock of German drugs and chemicals giant Bayer with a "buy" rating and a target price of 90 euros.
The British broker wrote that Roundup litigation risk in the US has driven the shares down from 95 euros in August last year to below 60 euros today.
It noted the market is pricing in a 40 billion euro liability, while it believes that the real burden will be substantially lower, albeit after a long drawn out legal process.
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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.
The British broker wrote that Roundup litigation risk in the US has driven the shares down from 95 euros in August last year to below 60 euros today.
It noted the market is pricing in a 40 billion euro liability, while it believes that the real burden will be substantially lower, albeit after a long drawn out legal process.
Copyright (c) 2019 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.