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UPDATE: Miller Tabak Upgrades Monsanto

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On Friday, Miller Tabak upgraded shares of Monsanto (NYSE: MON) from Hold to Buy and raised the price target from $106 to $130.

Analyst Tim Tiberio sees a “positive shift in underlying agriculture macro trends enabling Monsanto to bridge the earnings hurdle between multi-year high, Roundup margins, and recent seed price tailwinds and the next burst of material margin uplift from Intaca and IFS products in FY:16.”

The Street is “bracing for ‘limited-to-no upside' to guidance in FY:14” because of “uncertainty over the impact of tightening credit on Ukrainian seed volumes going forward and Brazilian weather impact on Intacta supply availability for next season,” said Tiberio.

The analyst raised his forward multiple from 20.5 times to 22 times “upward revised FY15EPS estimate of $5.92 ($5.52 prior).”

Shares are up 1.4 percent to $112.34 in Friday's trading.

Posted-In: Miller Tabak Tim TiberioAnalyst Color Analyst Ratings

 

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