Bayer: Credit Suisse raises target price
(CercleFinance.com) - While maintaining its "neutral" rating on Bayer shares, Credit Suisse has raised its target price for them to 62 euros (from 56 euros), after raising its EPS estimates for the German health and agrochemicals group by around 5% over 2022-26.
"Crop Science growth was particularly strong but we estimate that high glyphosate pricing drove the majority of sales growth and all the margin gains," the broker said.
"Against a background of high crop prices, intensive ag chemical use and share gains for key franchises we could expect a raise to this year's guidance," it added.
However, it's not the stock's day today though - it is currently down about 9.5% at 56 euros in Frankfurt.
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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.
"Crop Science growth was particularly strong but we estimate that high glyphosate pricing drove the majority of sales growth and all the margin gains," the broker said.
"Against a background of high crop prices, intensive ag chemical use and share gains for key franchises we could expect a raise to this year's guidance," it added.
However, it's not the stock's day today though - it is currently down about 9.5% at 56 euros in Frankfurt.
Copyright (c) 2022 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.