Zacks Investment Research Upgrades Bayer AG (BAYRY) to Buy
Bayer AG (OTCMKTS:BAYRY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $111.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.53% from the company’s current price.
According to Zacks, “Bayer’s Life Science businesses continue to perform well, particularly the Pharmaceuticals and Consumer Health businesses. Newly launched products in the Pharmaceuticals segment should continue to perform impressively in the upcoming quarters. Bayer has made several acquisitions and entered into a number of deals to boost its portfolio in the past few quarters. In its attempt to create a global leader in agriculture, Bayer signed an agreement to acquire Monsanto for an aggregate value of $66 billion. We are further pleased with Bayer’s strategy of transforming itself into a pure life science company, which resulted in the sale of its Diabetes Care business and the spin-off of MaterialScience. Estimates have been going up ahead of the company’s Q3 earnings release. However, we are concerned about the company’s dependence on the Pharmaceuticals segment for growth.”
BAYRY has been the subject of several other reports. Citigroup Inc. upgraded shares of Bayer AG from a “neutral” rating to a “buy” rating in a report on Thursday, August 25th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Bayer AG in a report on Wednesday, September 14th. Finally, Sanford C. Bernstein reiterated a “buy” rating on shares of Bayer AG in a report on Thursday, September 15th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $120.50.
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Shares of Bayer AG (OTCMKTS:BAYRY) traded down 0.69% during trading on Monday, hitting $98.64. 43,149 shares of the stock traded hands. The firm has a market cap of $81.57 billion, a PE ratio of 16.26 and a beta of 1.35. Bayer AG has a 52-week low of $94.36 and a 52-week high of $135.71. The company’s 50 day moving average is $103.03 and its 200 day moving average is $106.34.
About Bayer AG
Bayer AG is a life science company. The Company’s segments are Pharmaceuticals, Consumer Health, Crop Science, Animal Health and Covestro. The Pharmaceuticals segment is engaged in the development of prescription pharmaceuticals; contraceptives, and medical products, such as injection systems and contrast agents for diagnostic procedures.
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