Citi Downgrades Monsanto (MON) to Hold; Lowers Estimates & Price Target
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Citi downgrades Monsanto (NYSE: MON) from Buy to Hold. Price target lowered from $98 to $95.
Citi analyst says, "Moving to the sidelines on MON - We are downgrading to Hold for two reasons: a) we are concerned that a onslaught of Chinese glyphosate will pressure near-term earnings; b) the stock is close to our price target. MON has outperformed the group this year (+27% YTD vs. the S&P Chemical Index +20%); we are switching our preferred way to play the Ag cycle from MON to fertilizer producers Potash (NYSE: POT) and Mosaic (NYSE: MOS)....We are lowering our MON EPS estimate from $4.60 to $4.53 for '09 and $5.04 to $4.70 for '10."
To see more analyst ratings on MON Click Here.
Monsanto Company (Monsanto) along with its subsidiaries, is a global provider of agricultural products for farmers.
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