UPDATE: Citigroup Upgrades Syngenta AG to Buy on Growth Prospects

Citigroup increased its rating on Syngenta AG

from Neutral to Buy and raised its price target to $78.52. Citigroup noted, "We are upgrading Syngenta to Buy and raise our Target Price to $78.52, at slight discount to DCF of $83.21. We think Syngenta is coming into “harvesting mode” from previous research pipeline investments; high soft commodities prices underpin current positive momentum. We expect the company to grow its earnings by around 10% CAGR for the next 4 years driven by market share gains from the commercialization of its research pipeline and margin expansion from its new integrated business model." Syngenta AG closed at $65.60 on Friday.