BofA analyst Steve Byrne raised the firm’s price target on Corteva (CTVA) to $69 from $67 and keeps a Buy rating on the shares. The firm leaves Corteva’s investor day “more constructive on the company’s outlook,” adding that it believes the 2027 EBITDA target range is achievable and models $4.46B for that year. Based on this earnings forecast, the firm believes the stock can deliver about 20%-plus annualized return at the midpoint and even about 10% at the low-end of the outlook, the analyst added.
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Read More on CTVA:
- Corteva price target raised to $67 from $65 at Wells Fargo
- Corteva unveils financial framework through 2027
- Corteva sees $1B in net sales from growth platforms through 2027
- Corteva sees $4.5B in shareholder returns through 2027
- Corteva announces new $3B share repurchase program
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
