J.P. Morgan Reiterates Overweight on Monsanto Following 3QF13 EPS Results

In a report published Wednesday, J.P. Morgan analyst Jeffrey J. Zekauskas reiterated an Overweight rating on Monsanto (NYSE: MON).

In the report, J.P. Morgan noted, “This morning Monsanto reported 3Q:F13 (ended May) EPS from continuing operations of $1.66 versus $1.63 in the year-ago period and our estimate of $1.65. The Bloomberg consensus was $1.61. The slightly better-than-expected results versus our estimate stemmed solely from a lower tax rate. Ag Productivity segment EBIT was consistent with our estimate, and Seed & Genomics segment results were somewhat below our estimate.”

Monsanto closed on Tuesday at $101.40.