Wells Fargo Starts Monsanto (MON) at Market Perform; From Aspirations Back To Commitments?

Wells Fargo initiates coverage on Monsanto (NYSE: MON) with a Market Perform. PT range $78-$80.

Wells analyst says, "While we approve of the "back to the future" strategy of penetration pricing and early farmer interaction, we would feel comfortable with more than just early indications before proclaiming success. Also, we find current valuation as fair, particularly given the risks highlighted below. We introduce our FY2012 EPS estimate at $3.45 and FY2013 at $3.90."

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

Shares of Monsanto closed at $72.52 yesterday.

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