Credit Suisse Boosts Estimates for Monsanto; Grain Prices Looking Good (MON)


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Agricultural products maker Monsanto Company ( MON ) on Wednesday saw its earnings estimates lifted by analysts at Credit Suisse.

The firm said it boosted its estimates for MON through 2013, citing favorable grain prices that are bolstering the company's bottom line. Suisse maintained its "Neutral" rating and $75 price target on MON, suggesting a relatively small 4% upside to the stock's Tuesday closing price of $71.94.

Monsanto shares, which rose about 3% in the full-year 2011, were unchanged in premarket trading Wednesday.

The Bottom Line
Shares of Monsanto ( MON ) have a 1.67% dividend yield, based on last night's closing stock price of $71.94. The stock has technical support in the $66-$68 price area. If the shares can firm up, we see overhead resistance around the $74-$78 price levels.

Monsanto Company ( MON ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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