Corteva price target raised to $64 from $56 at RBC Capital

RBC Capital raised the firm’s price target on Corteva to $64 from $56 and keeps an Outperform rating on the shares after its Q4 earnings beat. The analyst is also citing the firm’s expectation of mid-single-digit EBITDA growth in 2024, the management’s comfort with its 2025 EBITDA target range of $3.9B-$4.4B, and its focus on free cash flow and buybacks.