Bank of America just raised its EUR/USD forecast
Investing.com - RBC Capital has raised its price target on Corteva Inc. (NYSE:CTVA) to $85.00 from $74.00 while maintaining an Outperform rating on the agricultural chemical and seed company. The stock, currently trading near its 52-week high of $77.41, has shown remarkable strength with a 34% gain over the past six months. According to InvestingPro data, analysts maintain a strong buy consensus on the $51.3B market cap company.
The firm slightly increased its EBITDA estimates for Corteva to $2.04 billion for Q2, $3.78 billion for fiscal year 2025, and $4.1 billion for fiscal year 2026, citing confidence in the company’s 2025 guidance and 2027 targets.
RBC Capital noted several potential upside factors for Corteva, including catch-up in Brazil seed plantings, abating foreign exchange pressure, and possible gains from Dicamba-switching.
The new price target is based on a multiple of 14.0x the firm’s fiscal year 2026 EBITDA estimate, compared to the previous target which was based on 14x fiscal year 2025 EBITDA.
RBC Capital maintained its Outperform rating on Corteva stock, highlighting the company’s price/cost net gains and its target for $1 billion in share buybacks in 2025.
In other recent news, Corteva Inc. has been in the spotlight following several significant developments. BMO Capital has raised its price target for Corteva to $86, citing the company’s strong growth profile and projecting 2026 EBITDA at $4.1 billion, slightly above consensus estimates. Jefferies also reiterated a Buy rating on Corteva, increasing its price target to $92, highlighting the company’s growth potential and its strategic initiatives in technology and policy changes. In a notable partnership, Corteva has teamed up with Micropep Technologies to develop peptide-based crop protection solutions, granting Corteva exclusive global rights to apply specific peptides in biocontrol applications. This collaboration is expected to advance sustainable agriculture by addressing resistance issues and providing environmentally friendly alternatives.
Meanwhile, Turkey’s antitrust regulator has initiated an investigation into several companies in the seed market, including Corteva Turkey, over allegations of territory sharing and exchanging competition-sensitive information. This investigation could have significant implications for the companies involved. These recent developments underscore Corteva’s active role in both strategic growth and regulatory scrutiny.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.