real-time news and commentary for investors
Tuesday, Aug 27
Monsanto upgraded to Buy at UBS
- Monsanto (MON) is upgraded to Buy from Neutral at UBS, which says shares have overcorrected.
- UBS doesn't change its estimates or price target, which the firm believes are insensitive to corn as low as $4/bushel (futures currently $5).
- A high P/E is justified by high growth and driven by new products (~90% of sales from products new in past 5-6 years, R&D is 10% of sales), the firm says.