Bioceres Crop Solutions (BIOX) PT Lowered to $16 at Oppenheimer

Oppenheimer analyst Kristen Owen lowered the price target on Bioceres Crop Solutions (NASDAQ: BIOX) to $16.00 (from $17.00) while maintaining a Outperform rating.

The analyst comments "We remain constructive on BIOX as it exits an uneven recovery year and enters FY25 with a keen focus on working capital and revenue efficiency. We are lowering our FY25 topline outlook for muted growth amid the challenging ag macro backdrop, while strengthening our margin assumptions as the company transitions its go-to-market model for HB4 for capital efficiency. HB4 remains a crown jewel of the BIOX portfolio; however, we forecast a longer tail of opportunity in its biological crop nutrition and crop protection products. We see capital and management focus shifting in this direction, particularly given the relatively lower regulatory and commercial hurdles. With FY25 a transition year for profitability growth, we trim our price target to $16 from $17 and maintain our Outperform rating."

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