Agriculture giant Monsanto matched market expectations with its earnings results on Thursday and reaffirmed its financial goals for the full year. But Kevin Kirkeby of Standard & Poor’s said he still has a “hold” rating on the stock.
“We’ve seen the restructuring program coming to and end and we’re seeing some stabilizing in the underlying margins of their businesses and that’s why we upped our price target to $71 [a share] this morning,” Kirkeby told CNBC.
However, Kirkeby maintained his “hold” rating on the firm's shares on concerns related to potentially rising commodity prices.
Scorecard—What He Said:
- Kirkeby's Previous Appearance on CNBC (Aug. 18, 2010)
More Market Intelligence:
- Top Plays on China's Food Inflation
- Investing 'Minefields' to Watch for in 2011
- Water Cos with Global Growth Potential: Analysts
CNBC Data Pages:
Thursday's Top Dow Laggards (as of this writing):
Kirkeby does not own shares of MON.