UPDATE: Goldman Sachs Reiterates Buy Rating, Raises PT on Monsanto Company
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
|Feb 2017||RBC Capital||Initiates Coverage On||Sector Perform|
|Nov 2016||OTR Global||Upgrades||Negative||Mixed|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.