Analyst Edlain Rodriguez of Mizuho Securities maintained a Buy rating on Corteva (CTVA – Research Report), retaining the price target of $71.00.
Edlain Rodriguez has given his Buy rating due to a combination of factors that suggest Corteva is well-positioned for growth. One of the primary reasons is the company’s trajectory towards the higher end of its 2025 EBITDA guidance, driven by increased corn acreage in the US and a more favorable currency environment, particularly in Brazil. This indicates a robust performance outlook for Corteva, supported by its strong seed portfolio, which is considered more resilient compared to its peers.
Additionally, the potential increase in US corn planting to 94 million acres could contribute significantly to Corteva’s EBITDA, adding approximately $25 million. The foreign exchange headwinds, especially from Brazil, are expected to be less severe than initially anticipated, which could further enhance the company’s financial performance. Overall, these factors, along with a stable performance in crop protection and seed pricing, underpin Rodriguez’s confidence in maintaining an Outperform rating with a price target of $71.
In another report released on March 13, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $71.00 price target.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CTVA in relation to earlier this year.