UPDATE: Bank of America Raises PO on Monsanto

According to a research report this morning, Bank of America raises its PO on Monsanto

from $91 to $96 as existing products continue to grow in market share and yield higher volumes. Bank of America explained, “We are attracted to prospects for ongoing, double-digit earnings growth based on: (1) improved seed value propositions, supported by high commodity prices and farm income; (2) an industry-leading pipeline; (3) rising adoption of biotech traits inLatAm; and (4) prospects for market share gains in corn and soybeans.” Monsanto closed Friday at $76.17 as Bank of America maintains its Buy rating.