Corteva (NYSE:CTVA) Price Target Raised to $96.00

Key Points

• Bank of America raised Corteva’s price target from $90 to $96 and kept a buy rating, implying about 10% upside from the current share price.
• Other analysts have also recently turned more positive on the stock, with price targets ranging from $85 to $100; the consensus rating remains Moderate Buy.
• Corteva’s latest earnings beat expectations, with $1.50 EPS and $4.91 billion in revenue, and the stock was trading near its 52-week high around $87.25.

Corteva (NYSE:CTVA - Get Free Report) had its target price increased by Bank of America from $90.00 to $96.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price target suggests a potential upside of 10.03% from the company's current price.

CTVA has been the topic of a number of other research reports. Citigroup lifted their price target on shares of Corteva from $83.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. CICC Research upped their price objective on shares of Corteva from $80.00 to $93.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 13th. Morgan Stanley lifted their target price on shares of Corteva from $84.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Corteva from $90.00 to $100.00 in a research note on Monday, May 11th. Finally, UBS Group decreased their price target on shares of Corteva from $90.00 to $86.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $89.62.

Corteva Price Performance

Shares of Corteva stock traded down $0.05 during trading hours on Monday, reaching $87.25. The stock had a trading volume of 1,564,073 shares, compared to its average volume of 3,972,617. The stock's 50 day moving average is $80.86 and its 200 day moving average is $78.26. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Corteva has a twelve month low of $60.53 and a twelve month high of $88.21. The firm has a market capitalization of $58.36 billion, a PE ratio of 51.31, a PEG ratio of 2.67 and a beta of 0.56.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.32. The firm had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.64 billion. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Equities analysts expect that Corteva will post 3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corteva

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Corteva by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company's stock worth $5,398,392,000 after purchasing an additional 317,538 shares during the last quarter. State Street Corp lifted its position in Corteva by 3.7% during the fourth quarter. State Street Corp now owns 36,570,876 shares of the company's stock worth $2,451,346,000 after buying an additional 1,290,071 shares in the last quarter. Franklin Resources Inc. boosted its stake in Corteva by 4.3% during the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company's stock worth $1,309,599,000 after buying an additional 805,873 shares during the last quarter. Harris Associates L P grew its holdings in Corteva by 168.1% in the 4th quarter. Harris Associates L P now owns 17,026,221 shares of the company's stock valued at $1,141,268,000 after buying an additional 10,675,052 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Corteva by 5.0% in the 4th quarter. Northern Trust Corp now owns 11,731,834 shares of the company's stock worth $786,385,000 after acquiring an additional 562,550 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

About Corteva

Corteva, Inc NYSE: CTVA is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva's operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.

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