Bayer AG (BAYRY) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Bayer AG (NASDAQ:BAYRY) from a hold rating to a buy rating in a research note published on Tuesday. The firm currently has $148.00 price target on the stock.
According to Zacks, “Bayer surpassed earnings estimates but missed revenue estimates in the second quarter of 2017. The company experienced a significant decline in sales and earnings in the Crop Science segment due to high channel inventories in Brazil. Business at Consumer Health decreased, primarily due to the difficult market environment in the U.S. Based on this, the company lowered its revenue and earnings outlook for 2017. The company is facing generic threats/competition for many of its products including the Yaz franchise (oral contraceptives). The genericization of key drugs would negatively impact revenues. Nevertheless, the company is looking forward to acquire Monsanto Company in a deal worth approximately $66 billion. With the acquisition, the combined enterprise will be able to bring innovations to the market faster and provide its customers with better solutions. Yet, Bayer’s shares have outperformed the Zacks classified industry year to date.”
Separately, Berenberg Bank downgraded shares of Bayer AG from a buy rating to a hold rating in a report on Monday, July 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Bayer AG currently has a consensus rating of Buy and an average target price of $148.00.
Bayer AG (BAYRY) opened at 33.06 on Tuesday. Bayer AG has a 12 month low of $91.53 and a 12 month high of $139.04.
Bayer AG (NASDAQ:BAYRY) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.12. Bayer AG had a net margin of 10.90% and a return on equity of 13.03%. The company had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $14.45 billion. On average, analysts predict that Bayer AG will post $2.24 EPS for the current year.
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About Bayer AG
Bayer AG is a life science company. The Company’s segments are Pharmaceuticals, Consumer Health, Animal Health and Covestro. The Pharmaceuticals segment focuses on prescription products, especially for cardiology and women’s healthcare, and on specialty therapeutics in the areas of oncology, hematology and ophthalmology.
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