Canaccord lowered the firm’s price target on Bioceres (BIOX) to $9.50 from $10 and keeps a Buy rating on the shares. The firm said while the Q1 print confirmed our previous expectation that farmers in Latin America would take a bit longer to recover from El Nino drought trends, we believe that normalizing Argentinian rainfall suggests the weather headwinds are subsiding and could enable a Q2 recovery
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