Bayer A.G.
Although <B>Bayer A.G.'s</B> (<a href=http://www.zacks.com/stock/quote/BAYRY>BAYRY</a>) first-quarter earnings per share of 1.20 Euros surpassed 0.91 Euros reported in the year-ago period, we are concerned about the disappointing performance of the CropScience segment in the most recent quarter. The delay in approval of Xarelto also concerns us. <P ALIGN="left"> Furthermore, the failure of Nexavar to prolong the overall survival in patients suffering from advanced non-squamous non-small cell lung cancer (NSCLC) in a late stage study is a setback for the company. <P ALIGN="left"> The competitive environment in which Bayer operates is a further challenge for the company. Given these factors, we downgrade the stock to Underperform from Neutral with a price target of $54.00.
June 27, 2010 | Filed Under Stocks to Sell
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