Deutsche Bank Reiterates a 'Buy' on Monsanto (MON); The Momentum Is Back

Deutsche Bank reiterates a 'Buy' on Monsanto (NYSE: MON), PT increased to $80.

Deutsche analyst says, "Monsanto shares rallied 5% following its $0.15 EPS beat in FQ3, the raising of the midpoint of ’11 EPS guidance ($2.86) above consensus ($2.82), the achievement of mid-teens ’11 acreage targets in corn and soybeans, and the gaining of US corn and soybean market share in ‘11. We remain confident that the company’s strategy of promoting greater trait penetration by pursuing modest price increases will drive continued share gains and mid-to-high teens EPS growth over the next 3 years. With valuation attractive at 21x '12E EPS, we reiterate our Buy."

For more ratings news on Monsanto click here and for the rating history of Monsanto click here.

Shares of Monsanto closed at $70.26 yesterday.

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