Bayer Settlement Leads to Fair Value Estimate Decrease
While the costs will deplete capital, we don’t expect the settlement to create a major drag on the firm’s wide moat.
Damien Conover, CFA, is director of equity research, North America, for Morningstar.
Before joining Morningstar in 2007, Conover was an equity research analyst covering the healthcare sector for Raymond James, Bank of Montreal, and Tucker Anthony.
Conover holds bachelor’s and master’s degrees in finance from the University of Wisconsin and was a member of its Applied Security Analysis Program. He also holds the Chartered Financial Analyst® designation.
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