UPDATE: Jefferies Raises PT to $89 on Monsanto Company

Jefferies increases the price target from $79 to $89 on Hold-rated Monsanto Company

following the latest quarterly results. Jefferies says, "Q2 EPS of $2.28 was $0.16 above consensus, driven by corn in the US. Monsanto conservatively raised its FY12 outlook by $0.10, setting the EPS range to $3.49-$3.54. We are raising our full year EPS estimate by $0.09 to $3.53." MON closed at $81.80 on Wednesday.