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Bayer AG
BAYRY.PKISIN: US0727303028SEDOL: 2085652 |
Rating: HOLD |
Target Price: 56.66 USD |
Investment Horizon: 6 to 12 months |
3Q 08 Update Report
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Bayer AG (Bayer) reported subdued net sales growth as modest performance from the Healthcare and Cropscience subgroups was partially offset by weak revenues from the Materialscience subgroup in 3Q 08....
3Q 08 News Alert
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Bayer AG (Bayer) recorded a y-o-y increase in net sales in 3Q 08. However, EBITDA, operating and net income declined in 3Q 08. Nevertheless, we remain optimistic for the performance of the company’s key product; Yasmin/YAZ/Yasminelle, as well as the company’s CropScience subgroup. Consequently, our outlook for the company remains positive and we do not anticipate a change in our current BUY rating for the common stock....
Company News Alert
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Bayer AG (Bayer) has experienced a significant decline in the price of its common stock since our 1Q 08 update report, primarily due to the significant slowdown in the US economy and general weakness prevailing in global financial markets....
2Q 08 News Alert
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Bayer AG’s (Bayer) net sales were broadly in line with our estimates for 2Q 08. However profitability exceeded our expectations due to lower than expected other operating costs in 2Q 08. We intend to revise upwards our margin estimates going forward in light of the better than anticipated performance in 2Q 08. Consequently, our outlook for the company remains positive and we do not anticipate a change in our current rating for the common stock....
1Q 08 Update Report
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Bayer AG (Bayer) reported marginal growth in the top-line in 1Q 08, however operating and net margins grew strongly during the period, due to the successful implementation of cost-cutting initiatives by the company. Going forward, we expect healthy growth in Bayer’s HealthCare and CropScience segments, as well as ongoing benefits from the acquisition of Schering AG (Schering) over the long term....
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