UBS Group Increases Corteva (NYSE:CTVA) Price Target to $90.00

Corteva (NYSE:CTVA - Get Free Report) had its target price raised by stock analysts at UBS Group from $76.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective would indicate a potential upside of 18.13% from the stock's previous close.

Several other brokerages have also commented on CTVA. Oppenheimer reaffirmed an "outperform" rating and set a $75.00 price target (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. Jefferies Financial Group restated a "buy" rating on shares of Corteva in a research note on Friday, June 6th. BMO Capital Markets upped their target price on shares of Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research note on Tuesday. Citigroup upped their target price on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a research note on Monday, March 31st. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $74.62.

Corteva Price Performance

CTVA traded down $0.27 during midday trading on Wednesday, reaching $76.19. 632,778 shares of the company's stock were exchanged, compared to its average volume of 3,392,996. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. The stock has a market capitalization of $51.97 billion, a PE ratio of 46.43, a P/E/G ratio of 1.95 and a beta of 0.76. The business's 50-day moving average price is $70.69 and its 200 day moving average price is $64.28. Corteva has a 1-year low of $50.30 and a 1-year high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The firm's quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. As a group, equities analysts anticipate that Corteva will post 2.96 EPS for the current fiscal year.

Institutional Trading of Corteva

A number of institutional investors and hedge funds have recently modified their holdings of CTVA. Capital World Investors increased its holdings in shares of Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after acquiring an additional 12,381,436 shares during the period. Nuveen LLC acquired a new stake in shares of Corteva in the 1st quarter worth about $640,333,000. Independent Franchise Partners LLP increased its holdings in shares of Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after acquiring an additional 5,604,838 shares during the period. Norges Bank acquired a new stake in shares of Corteva in the 4th quarter worth about $251,892,000. Finally, JPMorgan Chase & Co. grew its position in Corteva by 54.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company's stock valued at $315,219,000 after buying an additional 1,769,355 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

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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