Bioceres price target lowered to $13 from $25 at Lake Street

Lake Street analyst Ben Klieve lowered the firm’s price target on Bioceres to $13 from $25 and keeps a Buy rating on the shares. The large-scale launch of HB4 wheat was “a major disappointment,” and the product “now appears will be a helpful growth driver rather than the transformational change agent we were expecting,” the analyst tells investors. HB4 has “materially tempered” the FY25/FY26 profitability outlook and the firm’s conviction on the stock, but Lake Street continues to believe Bioceres has a well-developed portfolio of next-generation ag inputs, the analyst tells investors.