Analyst Vincent Andrews from Morgan Stanley maintained a Buy rating on Corteva and keeping the price target at $84.00.
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Vincent Andrews has given his Buy rating due to a combination of factors that suggest a promising outlook for Corteva. One key aspect is the potential for Corteva to enhance its product offerings by possibly selling FMC’s patented molecules, which could bolster its market position in crop chemicals. This opportunity arises as Corteva has significant exposure to row crops, making it an attractive partner for such collaborations.
Additionally, recent legal developments may alleviate investor concerns regarding litigation risks. The US Solicitor General’s brief to the Supreme Court in a related case suggests that future litigation risks could be mitigated, which would reduce uncertainty for investors. These factors, combined with Corteva’s own innovative portfolio, present a compelling growth story that supports the Buy rating.