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UPDATE: Goldman Sachs Reiterates Buy Rating, Raises PT on Monsanto Company

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In a report published Wednesday, Goldman Sachs Group upgraded Monsanto Company (NYSE: MON) from Buy to Conviction List Buy and raised its price target from $100.00 to $110.00.

Goldman Sachs noted, “We add MON to the Americas Conviction Buy List, reflecting our greater confidence in its ability to deliver strong, relatively macro-insensitive EPS growth in FY2013-FY2014 as elevated soft commodity prices inspire farmers to seek maximum yields and embrace MON's leading seed technology. Further penetration of its Reduced Refuge corn and RR2 soy platforms in the US, trait intensification in South American corn, and Intacta soybean commercialization suggest around 20% EPS growth over the next two years. We expect investors to remain attracted to its less volatile ag-related technology growth and see 24% upside to our new 12-month price target of $110.”

Monsanto Company closed on Tuesday at $89.06.

Latest Ratings for MON

DateFirmActionFromTo
Feb 2017RBC CapitalInitiates Coverage OnSector Perform
Nov 2016OTR GlobalUpgradesNegativeMixed
Oct 2016BarclaysMaintainsEqual-weight

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Posted-In: Goldman Sachs GroupAnalyst Color Upgrades Analyst Ratings

 

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