0829 GMT - Bayer's strong start to the year and signs of a recovery in its pharmaceutical business suggests earnings expectations might have bottomed out, Goldman Sachs analysts say in a research note. Consensus earnings estimates on the German agricultural and pharma group could start to trend higher as the market gives credit to its cost-savings plan, the analysts say. Moreover, the risk-reward equation on litigation updates through 2025 looks more favorable, according to Goldman Sachs. Legal cases over Bayer's Roundup weedkiller have been a drag on its stock since it lost the first trial in 2018, the analysts say. Goldman Sachs raises its recommendation on Bayer to buy from neutral, and lifts its target price to 33 euros from 29.10 euros. Shares jump 4.9% to 26.55 euros. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
June 05, 2025 04:29 ET (08:29 GMT)
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