Syngenta AG Lowered to Underperform at Zacks (SYT)
Syngenta AG (NYSE:SYT) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Friday, Analyst Ratings News reports. They currently have a $66.00 price target on the stock. Zacks‘ target price suggests a potential downside of 9.75% from the stock’s previous close.
Zacks‘ analyst wrote, “Syngenta reported mixed 2013 results. Earnings per ADR came in at $3.86, down 13.5% year over year. Revenues inched up 5% year over year due to a mix of volume and prices improvement. Increase in costs reduced the margins for the company. Syngenta expects foreign exchange transactions to hamper earnings in the coming quarters. Additionally, international operations of the company expose it to various geo-political risks. Product launches, in order to gain market share, raise the company’s legal as well as compliance costs. Moreover, resources that are spent on new products and technological developments may prove futile. Last year’s drought increased the company’s costs. Based on these factors, we downgrade our recommendation on the company to Underperform from Neutral.”
A number of other analysts have also recently weighed in on SYT. Analysts at Sanford C. Bernstein upgraded shares of Syngenta AG from an “underperform” rating to a “market perform” rating in a research note on Friday, February 7th. Separately, analysts at UBS AG upgraded shares of Syngenta AG from a “sell” rating to a “neutral” rating in a research note on Thursday, February 6th. Finally, analysts at Bank of America downgraded shares of Syngenta AG from a “buy” rating to a “neutral” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $268.60.
Shares of Syngenta AG (NYSE:SYT) traded up 0.08% during mid-day trading on Friday, hitting $73.19. 114,603 shares of the company’s stock traded hands. Syngenta AG has a 1-year low of $67.25 and a 1-year high of $87.46. The stock’s 50-day moving average is $74.69 and its 200-day moving average is $78.2. The company has a market cap of $33.576 billion and a P/E ratio of 20.57.
Syngenta AG is a Switzerland-based company engaged in production of products for crop productivity. The Company’s businesses include herbicides, insecticides and fungicides for crop protection, field crops, vegetables and flower seeds, seed care products and turf, garden, home care and public health products.
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