Monsanto (MON) Price Target Increased to $122 at UBS

UBS analyst, John Roberts, notes the WSJ reported this past Friday that Bayer has reiterated its $122/sh bid for Monsanto (NYSE: MON), but is willing to negotiate if MON will provide more data. MON has indicated that it wants a better bid before it provides more data. Given that both parties seem open to constructive talks, they're raising their PT to $122 (from $97) to be in line with the current bid price from Bayer.

The pending merger of DowDuPont, the proposed acquisition of Syngenta by ChemChina, and Bayer's bid for Monsanto demonstrates the value of leading positions in seeds & pesticides.

No change to Buy rating but the PT increases to $122 from $97.

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 $107.05 yesterday.

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