Monsanto upped to Buy at Jefferies, which sees Bayer deal "highly likely"

May 25, 2016 9:14 AM ETMonsanto Company (MON-OLD)MON-OLD, BAYRYBy: Carl Surran, SA News Editor12 Comments
  • Monsanto (NYSE:MON) +2.2% premarket as Jefferies upgrades shares to Buy from Hold with a $132 stock price target, raised from $95, seeing a $130/share or greater takeover by Bayer (OTCPK:BAYRY) as "highly likely."
  • MON's response to Bayer "was far from a full-throated defense" and "benign enough to open the door for more productive discussions," Jefferies notes.
  • The firm also believes favorable weather should drive price support for MON in 2017-20.
  • Now read Bayer says it can meet Monsanto deal demands

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