Mini-Monsanto Seed Rallying (MON, SEED)

This morning Rodman & Renshaw raised their price target on Origin Agritech (NASDAQ: SEED) and shares soared on the news.

Rodman & Renshaw maintained their Market Outperform rating on SEED and raised their price target to $17 from $15. They believe the company's business model and strategic direction is similiar to that of a mini-Monsanto (NYSE: MON). The company currently generates its revenue from the sale of hybrid seed products, but has been heavily investing in the development of a pipeline of genetically modified seeds.

Shares of SEED are flying today, up $1.48, or 20.85%, to $8.58. Origin Agritech is based in China and has a market cap. of $195.4 million.

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