UBS Highlights Monsanto's (MON) 'Whistle Stop' Tour; Adjusts PT and Estimates

August 20, 2012 1:17 PM EDT
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Price: $108.54 +0.09%

Rating Summary:
    21 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

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    Up: 18 | Down: 17 | New: 10
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UBS maintains a 'Neutral' on Monsanto (NYSE: MON) price target of $88.00 (from $80.00).

Analyst, Bill Carroll, said, "Monsanto's "Whistle Stop" tour this week focused on its current product portfolio and pipeline. Reduced-refuge corn/RR2Y soy seed sales rose by 12MM/13MM acres in FY12, with similar gains expected in FY13. Intacta insect-protected soybean seeds are slated for a FY14 launch in Brazil (~60MM soy acres). Progress continues on a value-capture system for biotech soybeans in Argentina (45MM soy acres)."

After MON reaffirmed its FY12 EPS guidance (of $3.65-3.70) and targeting FY13 EPS growth in the mid-teens, UBS raises FY13 from $4.25 to $4.40 (maintains FY12 at $3.70. FY14 raised from $4.55 to $4.95.

Carroll maintains a 'Neutral' on MON, citing the company's currently trading at 20.3x 2013 PE (which is in-line with its history, but above other chemical companies with similar growth)

For an analyst ratings summary and ratings history on Monsanto click here. For more ratings news on Monsanto click here.

Shares of Monsanto closed at $87.87 yesterday.

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