Analyst Joel Jackson of BMO Capital reiterated a Buy rating on Corteva (CTVA – Research Report), retaining the price target of $72.00.
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Joel Jackson has given his Buy rating due to a combination of factors, including Corteva’s strong execution in the agricultural market and stable seed pricing. Despite facing foreign exchange headwinds, the company is supported by a $1 billion buyback and is expected to show low single-digit EBITDA growth in the first half of 2025, with higher growth anticipated in the second half.
Corteva’s management anticipates a stable year-over-year performance in its Crop Protection business, with volume growth offsetting price declines. Additionally, Corteva’s exposure to tariffs is minimal, and it benefits from favorable agricultural fundamentals, such as increased planted corn acres and improved farmer margins. This resilient performance, along with potential upside from competitor issues and a robust multi-year EBITDA growth outlook, underpins the Buy rating.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $70.00 price target.
CTVA’s price has also changed moderately for the past six months – from $51.180 to $62.360, which is a 21.84% increase.