UPDATE: Argus Double Downgrades Monsanto (MON) to Sell Following Acquisition

April 16, 2018 7:38 AM EDT
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Price: $9.70 --0%

Rating Summary:
    13 Buy, 14 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 3 | New: 10
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(Updated - April 16, 2018 7:49 AM EDT)

(updated to add analyst comment)

Argus downgraded Monsanto (NYSE: MON) from Buy to Sell.

Analyst Bill Selesky comments "the Department of Justice has now granted conditional approval of the company’s merger with Bayer. Although the deal still requires approval from Canadian and Mexican regulators, we now expect it to be completed by the end of the second quarter. We note that MON shares are now trading only 2% below the acquisition price of $128 per share."

The analyst expects the deal with Bayer to completed by the end of Q2.

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