Bayer (BAYRY) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Bayer (OTCMKTS:BAYRY) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $36.00 price target on the stock.
According to Zacks, “As part of its strategy to complete the planned acquisition of Monsanto, Bayer inked an agreement to sell selected Crop Science businesses to BASF. With this agreement, the company will actively address the authorities’ possible concerns regarding the planned acquisition of Monsanto and facilitate a successful closing of the transaction by early 2018. The combined enterprise will be able to bring innovations to the market faster and provide its customers with better solutions. However, the company is facing generic competition for many of its products including the Yaz franchise (oral contraceptives). The generics of key drugs will negatively impact revenues. Yet, Bayer’s shares have outperformed the industry year to date. Estimates have increased ahead of the Q4 earnings results. The company has a positive record of earnings surprises in recent quarters.”
A number of other equities analysts have also recently issued reports on BAYRY. ValuEngine cut Bayer from a buy rating to a hold rating in a report on Friday, September 22nd. BNP Paribas upgraded Bayer from a neutral rating to an outperform rating in a report on Monday, September 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $36.00.
Bayer (OTCMKTS:BAYRY) last issued its earnings results on Thursday, October 26th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.14. Bayer had a return on equity of 18.53% and a net margin of 10.88%. analysts anticipate that Bayer will post 2.27 earnings per share for the current fiscal year.
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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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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