Street View: Brokerages raise price targets on Corteva after profit beat
U.S. agrichemicals company Corteva CTVA.N beat first-quarter adjusted operating profit estimates on Wednesday, helped by higher prices for its seeds
CTVA posted an adjusted operating profit of $1.13/share vs est of 88 cents/share - data compiled by LSEG
UPBEAT ON GROWTH OPPORTUNITIES
Jefferies ("buy") raises PT to $80 from $72, expects 2026-2030 period to validate the relative share price resilience of CTVA, given a strong balance sheet and ability to respond to climate-related challenges
Citigroup ("buy") lifts PT to $78 from $75 due to healthy volume expansion and robust growth driver opportunities
Morgan Stanley ("overweight") raises PT to $71 from $65, says crop chemical trends are coming off of the bottom
Adds that the seed business is also enjoying lower production costs
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