Wells Fargo & Company Forecasts Strong Price Appreciation for Corteva (NYSE:CTVA) Stock

Corteva (NYSE:CTVA - Get Free Report) had its target price boosted by investment analysts at Wells Fargo & Company from $79.00 to $82.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 9.84% from the stock's current price.

Several other research analysts have also issued reports on CTVA. KeyCorp increased their price target on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Oppenheimer reissued an "outperform" rating and set a $75.00 target price (up from $72.00) on shares of Corteva in a research report on Friday, May 9th. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target for the company in a research note on Monday, March 31st. Morgan Stanley increased their price objective on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Barclays increased their price target on Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $72.08.

Corteva Trading Up 1.3%

CTVA stock traded up $0.93 during trading on Monday, hitting $74.65. The company had a trading volume of 218,557 shares, compared to its average volume of 3,353,232. The stock has a market cap of $50.93 billion, a PE ratio of 45.62, a PEG ratio of 1.88 and a beta of 0.75. The business has a 50-day moving average of $67.14 and a 200-day moving average of $62.92. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. Corteva has a one year low of $50.30 and a one year high of $74.87.

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

Institutional Investors Weigh In On Corteva

A number of institutional investors have recently made changes to their positions in CTVA. Flagship Wealth Advisors LLC bought a new stake in Corteva in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC purchased a new position in shares of Corteva during the fourth quarter valued at about $26,000. Pinney & Scofield Inc. purchased a new stake in Corteva in the fourth quarter worth about $27,000. LGT Financial Advisors LLC purchased a new position in shares of Corteva during the 4th quarter worth approximately $31,000. Finally, Valley National Advisers Inc. raised its position in shares of Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after acquiring an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

About Corteva

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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