Bayer's progress toward resolving U.S. litigation over its Roundup glyphosate-based weedkiller means investors' focus should start to shift to the fundamental aspects of the business, Deutsche Bank's Virginie Boucher-Ferte says in a research note. "Last week's Supreme Court ruling is pivotal to Bayer's multipronged approach to draw a line under its glyphosate liability," the analyst says. "All in all, we believe it should effectively cap the glyphosate exposure within existing provisions." The German group has a compelling growth profile in both its agricultural and pharmaceutical units, she adds. Deutsche Bank raises its recommendation on Bayer stock to buy from hold, lifting its target price to 60 euros from 45 euros. Shares closed at 49 euros, before news that Bayer plans to separate its Roundup business. (adria.calatayud@wsj.com)
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Bayer Can Start to Look Beyond Litigation — Market Talk
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Bayer's progress toward resolving U.S. litigation over its Roundup glyphosate-based weedkiller means investors' focus should start to shift to the fundamental aspects of the business, Deutsche Bank's Virginie Boucher-Ferte says in a research note. "Last week's Supreme Court ruling is pivotal to Bay…