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Equinet keeps ´hold´ on Bayer after Q2 figures
29 July 2010 - Equinet affirmed today its "hold" advice with a share price target of EUR52 on the stock of German pharmaceutical group Bayer AG (ETR: BAYN).
According to analyst Martin Possienke, the profitability of the company´s Healthcare and CropScience divisions was weak in the second quarter of the year. Bayer´s MaterialScience division, on the other hand, is recovering faster than expected, the analyst said. Possienke added that he would revise his forecast and may downgrade the company´s shares.
Equinet´s "hold" recommendation means that the total return on a company shares - price gains plus dividend - will grow between zero and 5% over the next six months.
At 10:21 GMT today Bayer´s shares gained 1.21% to EUR44.785 in floor trading on the Frankfurt Stock Exchange. The company´s stock went up 1.04% to EUR44.655 at 10:31 GMT on the Xetra platform.
(EUR1 = USD1.307)
According to analyst Martin Possienke, the profitability of the company´s Healthcare and CropScience divisions was weak in the second quarter of the year. Bayer´s MaterialScience division, on the other hand, is recovering faster than expected, the analyst said. Possienke added that he would revise his forecast and may downgrade the company´s shares.
Equinet´s "hold" recommendation means that the total return on a company shares - price gains plus dividend - will grow between zero and 5% over the next six months.
At 10:21 GMT today Bayer´s shares gained 1.21% to EUR44.785 in floor trading on the Frankfurt Stock Exchange. The company´s stock went up 1.04% to EUR44.655 at 10:31 GMT on the Xetra platform.
(EUR1 = USD1.307)
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