Bioceres price target lowered to $20 from $31 at Roth MKM

Roth MKM analyst Brian Wright lowered the firm’s price target on Bioceres to $20 from $31 but keeps a Buy rating on the shares ahead of its Q1 results. The firm is lowering its 2024 revenue estimates to reflect the challenging comparisons in Crop Protection and Crop Nutrition from Q1 of FY23, the analyst tells investors in a research note. Roth MKM adds however that there is no change in its favorable long-term thesis on the company.