Seed maker Monsanto Company (MON) on Thursday caught some continued bullish commentary from analysts at Deutsche Bank.

The firm reiterated its “Buy” rating on MON and lifted its price target from $92 to $100. That new target suggests a 15% upside to the stock’s Wednesday closing price of $86.64.

A Deutsche analyst commented, “Monsanto’s yield driven growth engine is, like fine wine, getting better with age. In the short-term, ’13 is likely to be a repeat of a strong ’12 (EPS +26%) driven by a 5-10% price uplift in US corn, acreage growth in both reduced refuge corn and RR2Y soybeans and market share gains in corn and soybeans. Longer-term, with Monsanto poised to launch a major new technology every year between now and the end of the decade, we believe the company could generate mid-teens EPS growth for the remainder of the decade.”

Accordingly, the firm raised its full-year 2013 earnings estimate from $4.30 to $4.40 per share.

Monsanto shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Monsanto (MON) have a 1.73% dividend yield, based on last night’s closing stock price of $86.64. The stock has technical support in the $80-$83 price area. If the shares can firm up, we see overhead resistance around the $89-$90 price levels.

Monsanto Company (MON) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

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