Corteva Inc. (CTVA) PT Lowered to $95 at BMO Capital
BMO Capital analyst Joel Jackson lowered the price target on Corteva Inc. (NYSE: CTVA) to $95.00 (from $100.00) while maintaining an Outperform rating.
The analyst commented: "Dividing Value Between Vylor and Post-Separation Corteva Following Investor Days; Following the pre-separation investor updates, we lower our target price to $95, assigning an estimated ~$70-75/share for Vylor (seeds) and ~$20/share for postseparation Corteva (crop chems). The reduction primarily reflects improved visibility into pro forma earnings trajectories and balance sheets rather than changes to our valuation framework. We still apply ~17x EV/EBITDA for Vylor and ~9x for New Corteva, implying a combined ~14x 2027E EV/EBITDA. Strategically, we viewed Vylor's outlook as largely in line with expectations, while New Corteva's growth framework came in modestly below our prior assumptions."
