J.P. Morgan Reiterates Overweight Rating on Monsanto Company
In a report published Wednesday, J.P. Morgan & Co. reiterated its Overweight rating on Monsanto Company (NYSE: MON).
J.P. Morgan noted, “Monsanto restated its goal of mid-teens earnings growth for F2013. The company is probably positioned to do much better than this. Monsanto indicated its corn seed pricing intentions for 2013 at an earlier juncture than it has made them available historically. It intends a 5-10% domestic increase in seed prices for 2013: a combination of positive mix effects from germ-plasm and seed traits as well as a lift to list prices. In addition, there is room to improve the corn seed product mix in both Brazil and Argentina. These are the preconditions of a strong prospective year. We note that Monsanto's corn seed revenue base is almost $6 billion in F2012.”
Monsanto Company closed on Tuesday at $86.20.
Latest Ratings for MON
|Jun 2015||Atlantic Equities||Upgrades||Underweight||Neutral|
|May 2015||Wells Fargo||Downgrades||Outperform||Market Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.