Deutsche Bank has published a research report on Adecoagro AGRO and initiates coverage with a Buy rating and $15 price target.
In the report, Deutsche Bank writes "Adecoagro is one of the largest agricultural companies in the region, operating in Argentina, Uruguay and Brazil. Increasing demand for food as world population grows, disposable income growth, and additional demand from biofuels within crop supply/demand should drive sustainable upward pressure on commodity prices. This should support earnings growth ahead. Moreover, limited access to land globally makes Adecoagro a unique play in the regional agribusiness space."
Adecoagro closed yesterday at $12.76.
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