Bayer AG
BAYN: XETR (DEU)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€59.00 | Mjrjlrn | Gmz |
Bayer Earnings: Steady Growth Supported by New Drug Launches Offsetting Generic Pressures
We are holding steady to our Bayer fair value estimate of EUR 68/$18.50 (local/ADR) and narrow moat rating following second-quarter results that ran slightly ahead of our expectations. We still view the stock as undervalued, with the market likely overly concerned about glyphosate litigation and underappreciating the firm's steady growth potential and solid cost-cutting program.