Bayer Lifts Full-Year Targets as UBS Sees More Room to Run
Published on 11/08/2026 at 08:51 | Editorial boerse-global.de
Bayer has raised its sights for 2026, and the sell side is taking notice. The German life-sciences group now expects full-year EBITDA before special items of EUR 9.8 billion to EUR 10.3 billion, up from a prior range of EUR 9.6 billion to EUR 10.1 billion, after a third quarter in which the pharmaceutical division did the heavy lifting.
Revenue for the three months came in at EUR 10.1 billion, with EBITDA before special items of EUR 1.62 billion — a 6.9% year-on-year advance. The top line also grew compared with the same period a year earlier. The bottom line was less flattering: Bayer posted a net loss of EUR 0.7 billion.
Pharma Momentum Draws a Higher Target
UBS responded on Wednesday by lifting its price target on the stock to EUR 66 from EUR 62, keeping a buy rating in place. Analyst Matthew Weston pointed to the strong momentum in the pharmaceuticals business and also flagged the planned separation of rival Corteva as a supporting factor.
The improved pharma outlook underpins the upgraded group guidance. Bayer now sees an EBITDA margin of 25–27% for the division. Expectations for free cash flow were also revised upward, to a range of negative EUR 1.5 billion to negative EUR 0.5 billion. Net financial debt is projected at EUR 28.0 billion to EUR 29.0 billion at year-end.
Should investors sell immediately? Or is it worth buying Bayer?
Roundup Settlement Eyed Before Christmas
On the litigation front, chief executive Bill Anderson said Tuesday that he expects the proposed Roundup settlement of more than USD 7.25 billion to be finalized before Christmas, according to Reuters. The agreement remains under review by a court in Missouri.
Bayer's Monsanto unit has already logged a courtroom win this season. A St. Louis jury unanimously rejected claims brought by three women over Roundup on October 30 — a verdict the company cast as a signal for other cases. Reuters noted it was the first trial since the US Supreme Court's ruling in June.
Anderson also addressed the group's strategic direction the same day. According to media reports, a break-up of the conglomerate is not currently on the agenda; Bayer is instead focusing on innovation and reducing debt.
Bayer at a turning point? This analysis reveals what investors need to know now.
Pipeline News Flow Builds
Elsewhere in the portfolio, Bayer reported the first US shipment of its pre-emergence herbicide Convintro for the 2027 season. The product, whose active ingredient is diflufenican, is designed to give corn and soybean growers an additional option against herbicide-resistant weeds, and is aimed at both crops.
The company also said Wednesday it will present new data on cardiovascular disease, kidney disease and stroke at the AHA Scientific Sessions in Chicago from November 6 to 9. The lineup includes an analysis of the OCEANIC-STROKE study on asundexian.
Ad
Bayer Stock: New Analysis - 8 November
Fresh Bayer information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
