Bayer AG produces and markets healthcare and agricultural products, and polymers. The company manufactures products that include aspirin, antibiotics, anti-infectives, and cardiovascular, oncology, and central nervous system drugs, over-the-counter medications, diagnostics, animal health products, crop protection products, plastics, and polyurethanes. Our stance on Bayer Bayer remains one of our favourite long term stocks. Bayer is resilient to market underperformance in the long term and we are confident it will generate positive returns to shareholders in the medium term. Investment thesis On February 25, Bayer reported results for Financial Year 2016 Post the results, we continue to see Bayer as an attractive investment and maintain our 12-month price target of €120.60/share. The sell-off we have seen in shares over the last couple of days was mainly due to the market expecting management to announce a better outlook for 2016 rather than mediocre growth in revenues and margins. Although we would have been more comfortable with a stronger outlook for 2016, we are conscientious that 2016 will be difficult for many companies across the board due to global growth...
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