UPDATE: "More on Goldman's 'Conviction Buy' on Monsanto (MON)"
Premarket the stock is up $1.63 at $50.40.
Goldman Sachs upgraded Monsanto to conviction buy Wednesday from neutral, writing that the “bad news is exhausted” and investor sentiment may be bottoming. Monsanto has been the second-worst performing stock in the S&P 500 this year, Goldman notes, thanks to woes in its herbicide and seed businesses....From StreetInsider:
...The firm notes that from growth favorite Monsanto has been the worst-performing chemicals stock in 2010 and the second-worst stock in the S&P 500.
Goldman analyst Robert Koort now thinks the bad news is exhausted, investor sentiment can bottom, and, with the shares below the $50 mark, now is the time to start building positions.
The firm sees 33% upside to their $65 price target.