UPDATE: Goldman Sachs Raises PT on Monsanto Company on 2Q13 EPS
In a report published Friday, Goldman Sachs analyst Robert Koort reiterated a Buy rating on Monsanto Company (NYSE: MON), and raised the price target from $116.00 to $122.00.
In the report, Koort noted, “MON reported 2Q13 EPS of $2.73 vs. our/Street estimates of $2.57/$2.56 and raised FY2013 EPS guidance by $0.10 to $4.40-$4.50. Mgmt also guided new product (reduced refuge and RR2) acres to the high end of their prior ranges and expressed confidence in Intacta commercialization in Brazil in FY2014 and Argentina in FY2015. The earnings beat follows last week's announcement that DD will license MON's RR2 soybean trait beginning in 2014, which significantly reduces competitive threats and de-risks future earnings, in our opinion.”
Monsanto Company closed on Thursday at $105.74.
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