Wells Fargo & Company Raises Corteva (NYSE:CTVA) Price Target to $67.00

Corteva (NYSE:CTVA - Get Free Report) had its target price raised by stock analysts at Wells Fargo & Company from $66.00 to $67.00 in a research report issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 17.19% from the stock's current price.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $57.00 price objective (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Oppenheimer boosted their target price on Corteva from $67.00 to $69.00 and gave the company an "outperform" rating in a research report on Friday. Canaccord Genuity Group upped their price objective on Corteva from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday. Barclays upped their price objective on Corteva from $55.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 10th. Finally, Loop Capital upgraded shares of Corteva from a "hold" rating to a "buy" rating and upped their price objective for the company from $57.00 to $65.00 in a research note on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and an average price target of $63.38.

Corteva Price Performance

CTVA stock traded up $0.19 during trading on Friday, hitting $57.17. The stock had a trading volume of 2,977,558 shares, compared to its average volume of 3,547,653. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. Corteva has a twelve month low of $43.22 and a twelve month high of $60.57. The stock has a market capitalization of $39.95 billion, a P/E ratio of 72.35, a PEG ratio of 1.41 and a beta of 0.78. The company's 50-day moving average price is $55.33 and its two-hundred day moving average price is $50.61.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to analysts' expectations of $4.65 billion. Corteva had a return on equity of 6.63% and a net margin of 3.32%. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. As a group, research analysts predict that Corteva will post 2.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Corteva

A number of hedge funds have recently made changes to their positions in the stock. &PARTNERS raised its stake in shares of Corteva by 4.3% in the 1st quarter. &PARTNERS now owns 4,829 shares of the company's stock valued at $278,000 after acquiring an additional 200 shares during the period. Essex Financial Services Inc. raised its stake in shares of Corteva by 3.2% in the 3rd quarter. Essex Financial Services Inc. now owns 6,883 shares of the company's stock valued at $352,000 after acquiring an additional 215 shares during the period. Baxter Bros Inc. raised its stake in shares of Corteva by 1.2% in the 4th quarter. Baxter Bros Inc. now owns 17,576 shares of the company's stock valued at $842,000 after acquiring an additional 215 shares during the period. Albion Financial Group UT raised its stake in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company's stock valued at $29,000 after acquiring an additional 220 shares during the period. Finally, NewSquare Capital LLC raised its stake in shares of Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company's stock valued at $28,000 after acquiring an additional 226 shares during the period. Institutional investors and hedge funds 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.

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