Bayer AG - ADR (BAYRY)
by Zacks Equity ResearchSeptember 21, 2012 | Comments : 0 Recommended this article: (0)
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Subsequently, Bayer has witnessed a series of positive developments, including progress regarding oncology candidate regorafenib and label expansion efforts for Xarelto. Moreover, the decision of Bayer's HealthCare unit to buy Teva's animal health business in the US is also a positive move.
Consequently, we believe that the current price represents an attractive entry point for long-term investors. Over the last five years, Bayer has traded in a range of 9.1x to 28.3x trailing 12-month earnings. Our target price of $103.00 is based on approximately 15.1x our 2012 EPADS estimate of $6.81.
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