Nomura Securities Reiterates a 'Buy' on Syngenta (SYT); Remains A Best Defensive Pick

Nomura Securities reiterates a 'Buy' on Syngenta (NYSE: SYT).

Analyst, Jean De Watteville, said, "Syngenta is the best defensive pick in our universe. First, continued volume growth and late-cycle price increase should support attractive EPS growth in 2012 (we estimate +16%, close to consensus). Second, Syngenta offers an attractive valuation (44% upside potential to our CHF 420 DCF target price vs 26% for the sector average, a 2012E P/E of 14.6x vs 17x historical average). Lastly, we believe investors underestimate Crop Protection’s long-term growth potential (we estimate +5% for the next decade vs +2% since 1990)."

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

Shares of Syngenta closed at $62.95 yesterday.

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