Bank of America Forecasts Strong Price Appreciation for Corteva (NYSE:CTVA) Stock

Corteva (NYSE:CTVA) had its price target raised by equities researchers at Bank of America from $90.00 to $96.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 10.03% from the stock’s previous close.

CTVA has been the subject of several other reports. The Goldman Sachs Group boosted their target price on Corteva from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Argus upped their target price on shares of Corteva from $80.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Citigroup lifted their price target on shares of Corteva from $83.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company increased their price objective on shares of Corteva from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average price target of $89.62.

Corteva Trading Down 0.1%

Shares of NYSE:CTVA traded down $0.05 during midday trading on Monday, reaching $87.25. 1,564,073 shares of the company’s stock were exchanged, compared to its average volume of 3,972,617. The firm’s 50 day simple moving average is $80.86 and its two-hundred day simple moving average is $78.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03. The stock has a market cap of $58.36 billion, a price-to-earnings ratio of 51.31, a P/E/G ratio of 2.67 and a beta of 0.56. Corteva has a fifty-two week low of $60.53 and a fifty-two week high of $88.21.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.64 billion. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, sell-side analysts forecast that Corteva will post 3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. increased its position in Corteva by 2.9% during the 1st quarter. William B. Walkup & Associates Inc. now owns 4,457 shares of the company’s stock valued at $373,000 after purchasing an additional 126 shares during the period. Wilkerson Advisory Group LLC lifted its position in shares of Corteva by 6.7% in the 1st quarter. Wilkerson Advisory Group LLC now owns 2,112 shares of the company’s stock worth $177,000 after purchasing an additional 133 shares during the period. AdvisorNet Financial Inc boosted its stake in shares of Corteva by 2.4% during the first quarter. AdvisorNet Financial Inc now owns 5,694 shares of the company’s stock valued at $477,000 after purchasing an additional 135 shares in the last quarter. First Horizon Corp increased its holdings in Corteva by 9.2% during the first quarter. First Horizon Corp now owns 1,600 shares of the company’s stock valued at $134,000 after buying an additional 135 shares during the period. Finally, Aviance Capital Partners LLC raised its stake in Corteva by 1.3% in the first quarter. Aviance Capital Partners LLC now owns 11,008 shares of the company’s stock worth $922,000 after buying an additional 137 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.