UPDATE: Jefferies Raises PT on Syngenta AG on In-Line Q1 Sales

In a report published Monday, Jefferies analyst Laurence Alexander reiterated a Hold rating on Syngenta AG SYT, and raised the price target from $79.00 to $86.00. In the report, Alexander noted, “Q1 sales of $4.6bn, up 6%, was in line with consensus, but a touch below our forecast. We are maintaining our 2013E and 2014E estimates, but raising our price target to CHF400 to reflect rolling forward our models one year.” Syngenta AG closed on Friday at $83.12.