Bayer analysts raise price targets following strong pharmaceutical results

Goldman Sachs and UBS have raised their price targets for Bayer to 66 euros, maintaining their buy recommendations. This move follows the company's third-quarter 2026 financial results, which showed a group revenue of 10.053 billion euros.

The pharmaceutical division was a primary driver of the improved outlook, reporting revenue of 4.680 billion euros and an EBITDA before special items of 1.292 billion euros, a 23.6 percent increase. Key contributors included the medications Nubeqa and Kerendia.

Bayer has raised its full-year currency-adjusted EBITDA forecast to between 9.8 and 10.3 billion euros. While the pharmaceutical sector showed strength, the Crop Science division saw a 2.4 percent decline in revenue, and Consumer Health reported a marginal increase of 0.1 percent.