Jefferies Bumps Price Target on Monsanto (MON) After Q112 Results

Jefferies raised its price target on Hold-rated Monsanto (NYSE: MON) from $74 to $78 following Q1 results, saying viability is good though not great.

The firm comments, "Q1 EPS of $0.23 was $0.07 above consensus and better than Monsanto's expected range, helped by corn (Latin America) and cotton (Australia, timing). After a strong start, Monsanto conservatively raised the bottom end of its FY12 outlook, setting the EPS range to $3.39-$3.44. We are raising Q2 EPS to $2.10 and maintaining our full year EPS estimate of $3.44, the high end of the company's range."

For an analyst ratings summary and ratings history on Monsanto click here. For more ratings news on Monsanto click here.

Shares of Monsanto closed at $76.68 yesterday.

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