UPDATE: Credit Suisse Reiterates On Monsanto Company On Revised EPS Estimates
In a report published Monday, Credit Suisse analyst Christopher S. Parkinson reiterated an Outperform rating on Monsanto Company (NYSE: MON), but lowered the price target from $148.00 to $141.00.
In the report, Credit Suisse noted, “Based on revised ‘soft guidance' of earnings growth below the standard 15% to 20% range, we are revising our FY15 EPS estimate to $5.90. The primary reason for our downward revision results from decreasing volume estimates within the corn S&G segment in addition to a slight decline in the ag productivity segment. We are implementing a FY16 EPS estimate of $7.20. Our price target goes to $141, which is 20x our normalized FY18 EPS of $8.40, discounted back.”
Monsanto Company closed on Friday at $116.62.
Latest Ratings for MON
|Mar 2015||Barclays||Initiates Coverage on||Equal-weight|
|Jan 2015||Deutsche Bank||Maintains||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.