Wells Fargo Upgrades Monsanto (MON) to Outperform, to Benefit from Higher Seed Pricing

September 27, 2012 6:53 AM EDT
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Price: $108.58 +0.43%

Rating Summary:
    21 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Wells Fargo upgraded Monsanto (NYSE: MON) from Market Perform to Outperform with a price target range of $104-106, up from $82-84.

The firm is more positive after meetings with President, Brett Begemann and IR, Bryan Hurley.

"With Chinese glyphosate challenges seemingly well behind them, we expect MON to
benefit from higher seed pricing (up 5-10% in FY2013) and penetration in Latin America (through the introduction of double and triple stacked traits)."

The firmis adjusting 2013E EPS from $4.20 to $4.40. 2012E EPS go from $3.70 to $3.72.

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 $89.49 yesterday.

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