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INDIANAPOLIS - Corteva, Inc. (NYSE:CTVA) announced two new insect control products on Wednesday, expanding its crop protection portfolio with both biological and synthetic solutions aimed at combating destructive pests. The agricultural innovation company, currently valued at $43.7 billion, has shown solid financial health with an overall "GOOD" score according to InvestingPro analysis.
The company introduced Goltrevo bioinsecticide, its first microbial-based solution in its Biologicals portfolio, and Varpelgo, a synthetic insecticide inspired by natural compounds. Both products target insects that cause significant crop damage globally.
Goltrevo, formulated from a strain of the fungus Beauveria bassiana 203, is designed to control sap-feeding insects like corn leafhoppers, whiteflies and aphids, as well as various chewing insects. According to the company, corn leafhoppers can spread diseases that cause yield losses of up to 70%. Corteva expects commercial sales of Goltrevo to begin in Latin America as early as 2027, pending regulatory approvals.
The company's second product, Varpelgo, targets chewing insects including diamondback moths, armyworms and various beetles in crops such as soybeans, corn, rice and fruits. Corteva stated the first commercial sales for this product are expected in Asia Pacific and Latin America in the early 2030s.
"These new insect management solutions complement our existing portfolio of leading biological and insecticide products and will help farmers better manage costly insect damage," said Robert King, executive vice president of crop protection for Corteva, in the press release.
Insects cause an estimated 20-40% crop loss globally, costing approximately $70 billion, according to information cited in the announcement.
Neither product is currently registered for sale in any jurisdiction, and the company noted that anticipated registration dates are estimates subject to change. Corteva develops and sells agricultural products including seeds, crop protection chemicals and digital services.
In other recent news, Corteva Inc. has announced plans to split into two separate entities: a Crop Protection business retaining the Corteva name and a new publicly traded seed business. This development has led to several analyst reactions. Mizuho has adjusted its price target for Corteva to $78 from $85, while still rating the stock as Outperform, based on a revised sum-of-the-parts analysis. KeyBanc has downgraded Corteva from Overweight to Sector Weight in response to the spin-off announcement.
Moody's has also downgraded Corteva's senior unsecured notes to Baa1 from A3, with a negative outlook, ahead of the seed business spin-off. Jefferies has lowered its price target to $85 from $92 but maintains a Buy rating, highlighting the potential of the chemicals business. Meanwhile, Morgan Stanley has reiterated its Overweight rating and maintained an $84 price target, viewing the recent stock decline as a buying opportunity. These developments have sparked varied analyst opinions on Corteva's future prospects.
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