BAYER: Glyphosate settlement: Good news indeed but is it ready for a full recovery? | NEUTRAL | EUR73 vs. EUR67 (+4%)
BAYER - NEUTRAL | EUR73 vs. EUR67 (+4%)Glyphosate settlement: Good news indeed but is it ready for a full recovery?
About EUR12bn to settle most of the multiple US litigations
A majority of the cases are settled but the issue not fully over
Dividend and rating preserved but less financial power
Neutral reiterated with a FV increased to EUR73
Bayer is a life sciences group based in Germany. Co.'s operations are organized along three divisions: Pharmaceuticals (engaged in prescription pharmaceuticals for cardiology and women's healthcare); Consumer Health (engaged in non-prescription products in dermatology, dietary supplement, analgesic, gastrointestinal, allergy, cold and flu, foot care, sun protection and cardiovascular risk prevention categories); and CropScience (engaged in the development of seeds and plant traits; crop protection; and for gardens, the green industry and non-agricultural pest control). Co. also maintains an Animal Health business unit engaged in the development of products for farm and companion animals.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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