UPDATE: J.P. Morgan Raises Price Target on Monsanto to $85

According to J.P. Morgan, Monsanto

price target is raised to $85. J.P. Morgan said that people forget that Monsanto used to earn $4.41 per share back in 2009 and $3.67 in 2008 up from $1.99 in 2007. “We raised our price target for Monsanto from $73 to $85 to reflect our increased earnings expectations and the meaningful possibility of earnings growth beyond our projections and Consensus expectations.” Monsanto closed yesterday at $72.67.