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• MON 83% Rate It

Seed maker Monsanto Company ( MON ) on Thursday caught some continued bullish commentary from analysts at Deutsche Bank.

The firm reiterated its "Buy" rating on MON and lifted its price target from $92 to $100. That new target suggests a 15% upside to the stock's Wednesday closing price of $86.64.

A Deutsche analyst commented, "Monsanto's yield driven growth engine is, like fine wine, getting better with age. In the short-term, '13 is likely to be a repeat of a strong '12 (EPS +26%) driven by a 5-10% price uplift in US corn, acreage growth in both reduced refuge corn and RR2Y soybeans and market share gains in corn and soybeans. Longer-term, with Monsanto poised to launch a major new technology every year between now and the end of the decade, we believe the company could generate mid-teens EPS growth for the remainder of the decade."

Accordingly, the firm raised its full-year 2013 earnings estimate from $4.30 to $4.40 per share.

Monsanto shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Monsanto ( MON ) have a 1.73% dividend yield, based on last night's closing stock price of $86.64. The stock has technical support in the $80-$83 price area. If the shares can firm up, we see overhead resistance around the $89-$90 price levels.

Monsanto Company ( MON ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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 .

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