UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Monsanto Company Following Announcement of Acquisition of Climate Corporation

In a report published Thursday, Deutsche Bank analyst David Begleiter reiterated a Buy rating on

, and raised the price target from $116.00 to $120.00. In the report, Deutsche Bank noted, “While Monsanto shares fell 1% following in-line Q4 results and 2014 guidance, far more important, in our view, was the announced acquisition of The Climate Corp, a leading provider of agriculture analytics and risk management, for $930MM. With the addition of The Climate Corporation, Monsanto's budding Integrated Farming Systems (IFS) becomes a full fledged transformational platform, well positioned to address agriculture's next major growth frontier: the use of data to optimize farmer decision making and drive incremental yield. With a market opportunity of $20B, IFS is Monsanto's next major earnings driver. With mid-teens EPS growth as far as the eye can see, we reiterate Buy.” Monsanto Company closed on Wednesday at $104.04.