UPDATE: Credit Suisse Initiates Coverage on Evogene on Best-in-Class Position

In a report published Monday, Credit Suisse analyst Christopher S. Parkinson initiated coverage on

with an Outperform rating and $25.00 price target. In the report, Credit Suisse noted, “Initiating coverage with an Outperform rating and a $25 TP. We view EVGN as a best-in-class ag tech company well positioned to benefit from the secular need to enhance productivity per hectare. Their platform strength is evident by their ability to sign over 10 collaboration agreements with industry-leading seed/biotech companies (MON, DD, etc). The company's strong cash position and low cash burn rate should offer near-term support for its equity value, with several potential key positive catalysts on the horizon.” Evogene Ltd. closed on Friday at $19.75.