U.S. bank JPMorgan cut its price target for Bayer to 55 euros from 60 euros and left its rating at "Neutral." Value in the Leverkusen-based company's shares depends on the turnaround in the pharmaceuticals business, not a spin-off of the agricultural business, analyst Richard Vosser wrote in a research note presented Monday. Vosser is lowering his estimates and fears that annual targets will be trimmed further.
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