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Investing.com - RBC Capital raised its price target on Corteva Inc. (NYSE:CTVA) to $86.00 from $85.00 on Monday, while maintaining an Outperform rating on the agricultural chemical and seed company. According to InvestingPro data, the stock currently trades at $71.88, with analysts’ targets ranging from $60 to $92.
The price target adjustment follows Corteva’s strong second-quarter performance, which exceeded expectations with an EBITDA beat of approximately $164 million, representing about 8% above forecasts. The company’s last twelve months EBITDA stands at $3.57 billion, with InvestingPro analysis indicating an overall "GOOD" financial health score.
Despite the strong quarterly results, Corteva only raised the high end of its fiscal year 2025 guidance by approximately $50 million, citing potential volume uncertainty in Latin America during the second half of the year.
RBC Capital noted several positive factors supporting its outlook, including solid order books, improving net royalties, margin benefits from cost reductions, and strong performance from new products. The firm indicated Corteva remains on track to achieve its 2027 target of $1 billion in EBITDA growth.
The investment bank adjusted its quarterly and annual EBITDA estimates for Corteva, revising its Q3 forecast to -$115 million from -$100 million, while raising its full-year 2025 estimate to $3,825 million from $3,780 million and its 2026 projection to $4,150 million from $4,100 million. The company currently maintains a moderate debt level with a healthy current ratio of 1.68, suggesting strong operational flexibility.
In other recent news, Corteva Inc. reported strong financial results for the second quarter of 2025, surpassing analysts’ expectations with an earnings per share of $2.20, higher than the forecasted $1.89. The company also exceeded revenue forecasts, reporting $6.54 billion against the expected $6.27 billion. Following these results, Oppenheimer reiterated its Outperform rating on Corteva, maintaining a price target of $87.00, noting the company’s strong second-quarter performance. Oppenheimer highlighted Corteva’s focus on stabilizing Crop Protection dynamics in Latin America and anticipated mid-single-digit acreage growth for the second half of the year.
Additionally, KeyBanc raised its price target for Corteva to $85 from $84, while maintaining an Overweight rating due to strong execution across all business segments. Corteva’s Seed price and volume increased by 3%, and Crop Protection volumes grew by 11%, contributing to first-half results that exceeded expectations. The company’s EBITDA is on track to grow approximately 14% this year. These developments underscore Corteva’s robust performance in recent months.
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