Jefferies increases the price target from $79 to $89 on Hold-rated Monsanto Company MON following the latest quarterly results.
Jefferies says, "Q2 EPS of $2.28 was $0.16 above consensus, driven by corn in the US. Monsanto conservatively raised its FY12 outlook by $0.10, setting the EPS range to $3.49-$3.54. We are raising our full year EPS estimate by $0.09 to $3.53."
MON closed at $81.80 on Wednesday.
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