BAYER : Stifel downgrades its recommendation
The broker considers that a separation from consumer healthcare 'may create value, but is not a short-term solution for the strained balance sheet', and believes that a separation from agrochemicals would destroy value.
In conclusion, Stifel sees further downside potential for the consensus over the coming months, and estimates that EBITDA could decline by 11% in 2024, following a decline of around 20% last year.
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