Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Corteva (NYSE:CTVA) Stock Price

Key Points

• Deutsche Bank Aktiengesellschaft has raised its price target for Corteva (NYSE:CTVA) from $83.00 to $90.00, indicating a potential upside of 27.17% from the stock's previous close, while maintaining a "buy" rating.
• While Deutsche Bank remains positive, Citigroup recently downgraded Corteva from a "neutral" to a "mixed" rating, highlighting differing analyst opinions on the stock.
• Corteva reported better-than-expected earnings, with a quarterly EPS of $2.20 surpassing estimates by $0.31, along with a revenue of $6.46 billion for the same period.

Corteva (NYSE:CTVA - Get Free Report) had its target price upped by research analysts at Deutsche Bank Aktiengesellschaft from $83.00 to $90.00 in a report issued on Monday,MarketScreener reports. The firm currently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's price target suggests a potential upside of 27.38% from the stock's current price.

Other research analysts also recently issued reports about the company. Wall Street Zen upgraded Corteva from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Corteva in a research note on Monday, August 11th. Barclays upgraded Corteva from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. Morgan Stanley set a $84.00 price target on Corteva in a research note on Monday. Finally, Oppenheimer set a $87.00 price objective on Corteva and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and an average price target of $82.00.

Corteva Stock Performance

Shares of Corteva stock traded down $0.01 during trading hours on Monday, reaching $70.65. 918,729 shares of the stock traded hands, compared to its average volume of 3,831,073. The company has a 50 day moving average price of $72.57 and a 200 day moving average price of $68.34. The firm has a market capitalization of $47.98 billion, a price-to-earnings ratio of 34.47, a P/E/G ratio of 1.62 and a beta of 0.78. Corteva has a one year low of $53.40 and a one year high of $77.41. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. The business had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The business's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 EPS. On average, equities research analysts expect that Corteva will post 2.96 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares of the company's stock, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Corteva

A number of institutional investors have recently added to or reduced their stakes in the stock. Cary Street Partners Financial LLC boosted its holdings in shares of Corteva by 20.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company's stock valued at $5,677,000 after buying an additional 15,448 shares in the last quarter. Peak Financial Advisors LLC bought a new position in shares of Corteva during the 2nd quarter worth approximately $505,000. Goldman Sachs Group Inc. boosted its holdings in Corteva by 28.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company's stock worth $179,476,000 after acquiring an additional 634,938 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Corteva by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,174,351 shares of the company's stock worth $262,692,000 after acquiring an additional 84,506 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Corteva by 11.8% in the first quarter. Allworth Financial LP now owns 15,313 shares of the company's stock worth $945,000 after acquiring an additional 1,614 shares in the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Company Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.