BofA upgraded Adecoagro (AGRO) to Neutral from Underperform with a price target of $9, up from $7.50, following the $308M capital increase in December and the acquisition of Profertil. Though Profertil carries its own risk, mainly related to urea prices, the firm views the diversification away from sugar and ethanol as positive, the analyst tells investors.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AGRO: