Bioceres price target lowered to $2 from $2.25 at Canaccord

Canaccord analyst Austin Moeller lowered the firm’s price target on Bioceres (BIOX) to $2 from $2.25 and keeps a Hold rating on the shares. On December 18, New York’s Supreme Court ruled against Bioceres in ongoing litigation with the company’s creditors, the analyst tells investors in a research note. The firm says that with the judge’s non-final verdict determined, a credit sale process of Bioceres’ Pro Farm assets will likely now ensue. It believes the process could be damaging to the company’s operations.