BUZZ-Brokerages raise PTs on Corteva following attractive 2027 goals, $3 bln buyback

Reuters11-20 21:24

** Wells Fargo and BofA raise price target on agri-chemical firm Corteva as co's investor day provided attractive and achievable 2027 targets and new $3 bln buyback plan

** Wells Fargo raises PT TO $67 from $65 - a 15% upside to last close

** Says CTVA is constructive on the outlook for its seed and crop protection $(CP)$ business through 2027 and beyond

** Adds this is supported by multiple growth platforms and controllable cost improvement driving top line growth and margin expansion through 2027 on conservative agri market assumptions

** BofA raises PT to $69 from $67 - an 18% upside to last close

** Brokerage expects using gene editing to accelerate genetic yield gains and incorporate crop protection traits, leading to branded and licensee market share gains

** 17 of 24 brokerages rate the stock "buy" or higher, 7 "hold"; their median PT is $66.50 - data compiled by LSEG

** As of last close, stock up 21.54% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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