Bayer drops as Q2 EBITDA misses expectations, CropScience worries

Bayer Cropscience

05/08/2021 08:41

** Shares in Bayer  BAYGn.DE  drop 5%, hitting their lowest
level since December, after the German chemicals maker lifted
its outlook for 2021 on recovery of prescription medicine sales,
but posted a miss to Q2 EBITDA  urn:newsml:reuters.com:*:nL8N2PC1CK
    ** Credit Suisse points to Q2 EBITDA miss due to low crop
margin, while Barclays notes that investors might be slightly
concerned on the impact of cost inflation in CropScience
    ** Given the mixed results and 2021 guidance, and with the
focus of the market being on EBITDA miss and EBITDA FY guidance
implying about 2% cuts to consensus, JP Morgan expects Bayer
shares to underperform, it says
    ** The stock slumps at bottom of German blue-chip index
 .GDAXI 

 (Reporting by Linda Pasquini)
 ((Linda.pasquini@thomsonreuters.com))