Corteva (NYSE:CTVA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Corteva (NYSE:CTVA) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $70.00 to $75.00 in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 4.75% from the company’s current price.

Other analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft cut their price objective on Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Jefferies Financial Group cut their price target on shares of Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Royal Bank Of Canada reduced their price target on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Wells Fargo & Company cut their target price on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Finally, Oppenheimer restated an “outperform” rating and issued a $76.00 target price on shares of Corteva in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average target price of $79.47.

Corteva Price Performance

Shares of NYSE:CTVA opened at $71.60 on Wednesday. The company has a market capitalization of $48.38 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 1.83 and a beta of 0.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The stock has a fifty day moving average of $67.15 and a 200-day moving average of $68.49. Corteva has a one year low of $53.40 and a one year high of $77.41.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the firm earned ($0.49) earnings per share. Corteva’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that Corteva will post 2.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Corteva

A number of hedge funds have recently modified their holdings of CTVA. Brighton Jones LLC boosted its position in Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares during the last quarter. Woodline Partners LP raised its stake in shares of Corteva by 40.3% during the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock worth $3,645,000 after purchasing an additional 16,644 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Corteva by 20.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,282 shares of the company’s stock valued at $394,000 after buying an additional 895 shares during the last quarter. Sowell Financial Services LLC lifted its holdings in shares of Corteva by 12.0% during the 2nd quarter. Sowell Financial Services LLC now owns 7,024 shares of the company’s stock valued at $524,000 after buying an additional 754 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Corteva by 41.1% in the 2nd quarter. Park Avenue Securities LLC now owns 27,036 shares of the company’s stock valued at $2,015,000 after buying an additional 7,873 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

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.