Latest

Bayer: An interesting detail – new hope?

Last week, Bayer published a profit warning. In the Crop Science area, things are not going as hoped. The market reacts very disappointed to this news. Just before that, CEO Werner Baumann’s contract was extended to mid-2024. However, there is no relationship whatsoever between the two events, even if it might appear. This is what the analysts at UBS say.

A strategic meeting usually takes place at Bayer in June to discuss future developments. However, this meeting had to be postponed this year due to the pandemic. After the meeting it was clear that things were not going well in the agricultural sector. Hence the profit warning came up.

In terms of the outlook, the corn and soy futures in particular have made the situation worse. However, these are now higher than during the Bayer meeting. However, the Bayer managers had to take into account the current situation at the time. The assessment for 2021 was correspondingly bearish.

In their new study, the UBS analysts confirm their buy recommendation for Bayer shares. The price target for Bayer shares was previously EUR 110.00. In the current study by the Swiss, it sinks to 85.00 euros.

Bayer shares gain 0.9 percent in the morning to 45.36 euros.

Tags

Related Articles

Back to top button
Close
Close