Goldman Sachs announced on Friday that they have reiterated a
"Buy" rating for agricultural product producer, Monsanto Company(
The firm reported that it has reaffirmed a "Buy" rating, and a
$110 price target for MON. This price target suggests a 19%
increase from the stock's current price of $90.65.
An analyst from the firm commented, "the strong relative product
performance coupled with ongoing commercial ramp for its higher
margin reduced refuge corn and RR2 soybean, elevated crop prices
and some recent pricing momentum for glyphosate suggest another
strong earnings year and market share gains for FY2013. Investors
will also take comfort from the positive developments regarding the
Department of Justice's formal investigation, the rejection of Prop
37 in California and some progress on Brazilian RR1 patent issues.
MON offers attractive EPS growth with limited impact from fiscal
cliffs, Chinese leadership changes and European economic malaise.
We anticipate another rewarding year of 'beat and raise' earnings
results and reiterate our CL-Buy designation on MON."
Monsanto shares were mostly flat during premarket trading
Monday. The stock is up 29% YTD.
The Bottom Line
Shares of Monsanto Company (
) have a 1.65% dividend yield, based on Friday's closing stock
price of $90.69. The stock has technical support in the $84-$85
price area. If the shares can firm up, we see overhead resistance
around the $93-$97 price levels.
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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