Oppenheimer upgrades Corteva on potential upside to 2025 targets

Oppenheimer upgraded Corteva to Outperform from Perform with a $67 price target. The analyst says the “pieces are in place” for Corteva to deliver higher structural margins, greater revenue efficiency, and multiple expansion over time. Despite the recent destocking trends in crop protection, the company’s execution against its 2025 targets appear to be tracking ahead of schedule, the analyst tells investors in a research note. With the stock stabilizing in recent weeks, the firm believes there is “sufficient headroom to support a more favorable risk/reward trade off.”