Bayer downgraded over 'multiple adverse factors' faced in 2024
Bayer(BAYRY) Proactive Investors·2024-01-10 21:55
Bayer AG (ETR:BAYN, OTC:BAYZF) will find it tough to hit last year's targets and faces multiple adverse factors in 2024, said Stifel as it downgraded the German pharma giant and cut its share price target. The US bank removed its 'buy' rating with a switch to a 'hold' stance with a reduced price target of €42 from €68. Analysts think Bayer "will find it tough" to reach the lower end of the 2023 earnings guidance of €11.3 billion excluding current effects. According to new Bayer chief executive Bill Anders ...