UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Monsanto Company
In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Monsanto Company (NYSE: MON), and slightly raised its price target from $98.00 to $99.00.
Jefferies noted, “Monsanto will report Q1 EPS on Tuesday, January 8. We expect a modest upside surprise and an improved outlook of 15%-20% FY13 EPS growth (vs. current ‘mid-teens'), based on strong Latin American order trends, early order patterns in the US and higher glyphosate prices. We are raising FY13E $0.10 to $4.50. We remain concerned that Monsanto's relative multiple could contract next summer if a strong harvest puts pressure on crop prices.”
Monsanto Company closed on Monday at $93.08.
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