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Wednesday, December 29, 2010

Monsanto (NYSE:MON) PT Raised on Glyphosates in China

Monsanto had their price target raised by Piper Jaffray today, based on their 20 percent increase in the price of glyphosates in China.

Piper Jaffray analyst Mike Cox noted that the company could see their EPS raised from 15 cents to 30 cents as a result of the price increase.

Cox maintains his "Overweight" rating on Monsanto, which was trading at $68.71, gaining $1.60, or 2.38 percent, as of 11:54 AM EST. He raised his price target on the company from $74 to $75.

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