UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Monsanto Company

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Monsanto Company (NYSE: MON), and raised its price target from $99.00 to $110.00.

Jefferies noted, “Q1 EPS of $0.62 per share was $0.25 above consensus and $0.24 above our estimate. The company raised FY13 guidance to $4.30-$4.40 (16-19%) excluding a potential $0.20-$0.25 tailwind from Roundup Ready soybean in Brazil. We are maintaining FY13E EPS of $4.50 and raising FY14E $0.10 to $5.30 to reflect increased penetration rates in Latin America, timing of commercialization of the R&D pipeline, pricing and operating leverage.”

Monsanto Company closed on Tuesday at $98.50.