Morgan Stanley and Jefferies Raise Price Targets on Monstanto (MON)

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 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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