BofA raised the firm’s price target on Corteva to $57 from $52 and keeps a Neutral rating on the shares. The “lofty” 2025 EBITDA target of $4.1B-$4.7B was lowered by $250M at the midpoint, but the call was well received as the company addressed many investor concerns and is aggressively cutting costs, the analyst tells investors. While the firm is constructive longer-term in Seeds, it maintains a Neutral rating on the shares due to near-term risks.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CTVA:
- Corteva price target lowered to $56 from $59 at Mizuho
- Corteva Reports Fourth Quarter and Full-Year 2023 Results, Provides 2024 Guidance
- Corteva sees 2024 operating EPS $2.70-$2.90, consensus $3.01
- Corteva reports Q4 operating EPS 15c, consensus 6c
- Corteva options imply 4.6% move in share price post-earnings