In a report released today, Arun Viswanathan from RBC Capital maintained a Buy rating on Corteva (CTVA), with a price target of $27.00. The company’s shares closed last Monday at $24.12.
According to TipRanks.com, Viswanathan is a 4-star analyst with an average return of 1.9% and a 50.5% success rate. Viswanathan covers the Consumer Goods sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Berry Global Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Corteva with a $30.50 average price target, representing a 32.0% upside. In a report issued on March 13, Merrill Lynch also upgraded the stock to Buy.
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Based on Corteva’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.98 billion and GAAP net loss of $21 million. In comparison, last year the company earned revenue of $2.82 billion and had a GAAP net loss of $531 million.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CTVA in relation to earlier this year.
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Corteva, Inc. is a holding company, which engages in the provision of agricultural products. It operates through the Seed and Crop Protection segments. The Seed segment develops and supplies germplasm and traits that produce optimum yield for farms. The Crop Protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease, and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies. Its services include pasture and land management, and pest management. The company was founded on March 16, 2018 and is headquartered in Wilmington, DE.