Corteva upgraded to Buy from Neutral at UBS

UBS upgraded Corteva to Buy from Neutral with a price target of $67, up from $63. The analyst believes the market is now too negative on Corteva’s ability to grow earnings into a softening agriculture environment, and sees the stock’s underperformance as a buying opportunity. Corteva laid the groundwork on its cost savings and margin improvement plan years ago, and is now reaping the benefit of that work, the analyst tells investors in a research note. The firm says the company can achieve positive pricing in both s and crop chemicals, as well as modest volume growth.