Soleil Securities Downgrades Monsanto (MON) to Hold; Cuts PT & Estimates
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Soleil Securities downgrades Monsanto (NYSE: MON) from Buy to Hold. Price target slashed from $90 to $70.
Soleil analyst says, "We cut our F2010E from $3.58 to $3.15 and our F2011E from $4.81 to $4.24. Consensus estimates are $3.31 and $4.40 respectively. Performance positively correlated with grain prices. Monsanto's aggressive stance on new high-priced hybrid & variety launches and price increases on existing products worked well in the ag-flation environment of 2006 - mid 2008...Fences to mend. But it is unlikely to work nearly as well as growers believe they are under increased margin pressure and higher levels of risk, the environment they face in 2009 and 2010E."
To see more analyst ratings on MON Click Here.
Monsanto Company, together with its subsidiaries, provides agricultural products for farmers in the United States and internationally.
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What if all the butterflies were gone
JackHandy on Oct 31, 2009 03:23 AMWe would look more really stupid for rolling over and accepting food owned by conglomerates.