** Jefferies raises price target on U.S.-based agrichemicals company Corteva CTVA.N to $92 from $80; maintains "buy" rating
** New PT is 27.5% upside to stock's last close
** Brokerage says Corteva's leverage to increasing global acreage is a contrast to the concerns petrochemicals face over competitor supply additions
** It expects Corteva's competitive gap with Bayer will likely narrow this cycle, as Genetically Modified Organisms $(GMO)$ monopoly positions are harder to secure
** Brokerage notes that CTVA benefits from rising fertilizer prices and the end of destocking in crop chemicals
** 18 out 25 brokerages rate the stock "buy" or higher, 7 "hold"; median PT is $72.55 - data compiled by LSEG
** As of last close, CTVA up 25% YTD
(Reporting by Sumit Saha in Bengaluru)
((Sumit.Saha@thomsonreuters.com;))
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