Corteva price target raised to $69 from $67 at BofA

BofA analyst Steve Byrne raised the firm’s price target on Corteva (CTVA) to $69 from $67 and keeps a Buy rating on the shares. The firm leaves Corteva’s investor day “more constructive on the company’s outlook,” adding that it believes the 2027 EBITDA target range is achievable and models $4.46B for that year. Based on this earnings forecast, the firm believes the stock can deliver about 20%-plus annualized return at the midpoint and even about 10% at the low-end of the outlook, the analyst added.