Canaccord analyst Austin Moeller lowered the firm’s price target on Bioceres to $10 from $12.50 and keeps a Buy rating on the shares. The firm said the NOAA rainfall data points to light Q1 demand and as a result they believe a more conservative multiple is warranted given the expected reduction in the revenue growth rate to the HSD-range and near-term uncertainty for inputs demand in South America and Argentina in particular.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BIOX: