BUZZ-Citigroup raises PT for agri-chemical companies on favorable weather, strong planting season

Reuters
06/26
BUZZ-Citigroup raises PT for agri-chemical companies on favorable weather, strong planting season

** Citigroup says overall agri fundamentals are trending slightly above initial expectations due to favorable weather conditions and robust planting season

** "We continue to favor CTVA CTVA.N in the near-term, given robust seed portfolio more than offsetting the soft crop protection environment" - Citigroup

** Brokerage expects pricing support for FMC FMC.N later this year due to reduced capacity from a Chinese chemical plant explosion, and modest revenue growth from the fluindapyr sales agreement with CTVA

Brokerage raises PT for the following companies:

Company

New PT

Old PT

Upside

Corteva CTVA.N

$85

$78

16.1%

FMC Corp FMC.N

$45

$41

6.9%

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))

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