Deutsche raises Bayer price target on robust Q1

16 May 2007 16:27  [Source: ICIS news]

LONDON (ICIS news)--Deutsche Bank on Tuesday increased its target share price for Bayer following the German drugs and chemicals group’s robust first quarter earnings.

 

“Divisionally high-value Healthcare remains the key growth driver,” said Deutsche Bank in a note to investors. “CropScience is recovering, while MaterialScience showed relative resilience against a tough base.”

 

Bayer’s target share price was upgraded to €61 ($83) from €57 due to high growth potential in the Healthcare segment, while the bank maintained its ‘Buy’ rating.

 

Bayer shares had dropped 0.8% from Tuesday’s close to €49.65 (15:00 GMT).

 

($1 = €0.74)

By: Mark Watts
+44 20 8652 3214

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