Here's What the Street's Saying About Bayer's Share Price Plunge
- Analysts sound alarm bells over Roundup weed killer ruling
- Shares plummet as settlements seen reaching $5 billion-plus
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Bayer AG’s shares are on course for their worst decline since 2003, after the German pharmaceuticals and chemicals conglomerate lost the first phase of a jury trial concerning claims that its Roundup weed killer causes cancer.
Banks are cutting their ratings and slashing price targets for the stock amid predictions that the firm could face more than $5 billion in settlements. It wasn’t all doom and gloom, however, with analysts at Barclays Plc among those urging investors to “weather the short-term pain.”