Soleil Securities Downgrades American Vanguard (AVD) to Hold
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Soleil Securities downgrades American Vanguard Corp. (NYSE: AVD) from Buy to Hold, citing valuation as the shares approach their $18 price target.
The firm notes, "Potential relationship with Monsanto (MON) on corn soil insecticide Counter could possibly pay dividends in 09. And to offset the shortfall in corn, AVD pursuing non-crop opportunities for its insecticides.
American Vanguard Corporation, through its subsidiaries, develops, manufactures, and markets specialty chemical products for agricultural and commercial uses primarily in the United States.
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