Zacks Investment Research upgraded shares of Bayer AG (OTCMKTS:BAYRY) from a hold rating to a buy rating in a research note released on Monday. Zacks Investment Research currently has $111.00 price objective on the stock.

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.”

A number of other analysts have also commented on BAYRY. Citigroup Inc. raised Bayer AG from a neutral rating to a buy rating in a report on Thursday, August 25th. Goldman Sachs Group Inc. reissued a buy rating on shares of Bayer AG in a report on Wednesday, September 14th. Finally, Sanford C. Bernstein reissued a buy rating on shares of Bayer AG in a report on Thursday, September 15th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Bayer AG has a consensus rating of Buy and an average price target of $120.50.

Shares of Bayer AG (OTCMKTS:BAYRY) opened at 99.82 on Monday. The company’s 50-day moving average price is $102.76 and its 200 day moving average price is $106.05. The firm has a market capitalization of $82.55 billion, a PE ratio of 16.45 and a beta of 1.35. Bayer AG has a 12-month low of $94.36 and a 12-month high of $135.71.

Bayer AG Company Profile

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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