Morgan Stanley and Jefferies increased price targets for agricultural company, Monsanto Company(MON) on Wednesday.

Morgan Stanley, which currently has an “Overweight” rating on MON, has increased its price target to $115. This price target suggests a 15% increase from the stock’s current price of $97.73. Analysts from the firm have increased its price target due to higher deferred revenue.

Jefferies also increased their price target for MON to $110. This price target suggests an 11% increase from the stock’s current price. Analysts see the company’s price continuing to increase from their Roundup Ready system. The firm current has a “Hold” rating on MON.

Monsanto shares were down 77 cents, or -0.78% during premarket trading Wednesday. The stock has increased 27% in the past year.

The Bottom Line
Shares of Monsanto (MON) have a 1.52% dividend yield, based on last night’s closing stock price of $98.50. The stock has technical support in the $89-$90 price area. If the shares can firm up, we see overhead resistance around the $97-$100 price levels.

Monsanto Company(MON) is not recommended at this time, holding a Dividend.com 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.