Bayer: Stifel raises target price
(CercleFinance.com) - Stifel maintains its buy rating on Bayer shares and has increased its corresponding target price to 66 euros (vs.
57 euros previously - current price: about 55 euros).
The broker believe that the Bayer share price is benefiting from the flow of good news in the agricultural sector, by the progress made by its Pharma division - with the construction of a platform dedicated to cell and gene therapy - and by the improved visibility on the settlement of legal disputes.
"In contrast, strong FX headwind translates in lower earnings estimates. Our forecast is for 2020 and 2021 below consensus. However, we are positive on the underlying agro trends. Our 2022 estimates are ahead of consensus," Stifel summarises.
Copyright (c) 2021 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.
57 euros previously - current price: about 55 euros).
The broker believe that the Bayer share price is benefiting from the flow of good news in the agricultural sector, by the progress made by its Pharma division - with the construction of a platform dedicated to cell and gene therapy - and by the improved visibility on the settlement of legal disputes.
"In contrast, strong FX headwind translates in lower earnings estimates. Our forecast is for 2020 and 2021 below consensus. However, we are positive on the underlying agro trends. Our 2022 estimates are ahead of consensus," Stifel summarises.
Copyright (c) 2021 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.