Bayer Stock Defies Legal Headwinds with Strong Earnings Report
Bayer's stock has continued its upward trend despite another delay in the company's glyphosate settlement. The Missouri district court overseeing the proposed agreement has pushed back the final approval hearing from August 19 to September 14, giving both sides more time to process opt-out revocation requests.
Investors have taken this news in stride, with the shares closing at EUR 49.90 on Friday, up 1.05 percent on the day and 3.14 percent higher on the week.
The company's second-quarter results released earlier this week beat expectations, with revenue rising 2.2 percent to EUR 10.872 billion and EBITDA before special items climbing 1.9 percent to EUR 2.144 billion.
Goldman Sachs analyst James Quigley lifted his price target from EUR 62.50 to EUR 63.50, reiterating a 'Buy' rating and citing Bayer's strong financial trajectory.