Goldman Sees Further Upside for Monsanto Shares (MON)

St. Louis based Monsanto (MON) could be on the move today as Goldman Sachs (GS) added the agriculture behemoth to their Conviction Buy list this morning.

Goldman noted, “Greater confidence in its ability to deliver strong,mrelatively macro-insensitive EPS growth in FY2013-FY2014 as elevated soft commodity prices inspire farmers to seek maximum yields and
embrace MON’s leading seed technology”.

Goldman upped their price target from $100 to $110 implying 23.5% upside from Tuesday’s close of $89.06.

The Bottom Line
Shares of Monsanto (MON) have a 1.68% dividend yield, based on last night’s closing stock price of $89.06. The stock has technical support in the $80-$83 price area. If the shares can firm up, we see overhead resistance around the $93-$97 price levels.

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

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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