Monsanto (NYSE:MON) continues to get hammered by analysts, as Citigroup (NYSE:C) is the latest company to come down hard on them, as they've cut their price target on the seed company from $76 to $60.
Morgan Stanley (NYSE:MS) also downgraded Monsanto today, as concerns of the performance of lawn treatment division of the company was cited.
Citigroup analyst P.J. Juvekar said farmers were looking to cut costs more this year, and so are going with Monsanto competitors who are offering generic products for less price.
Earnings per share estimates were also lowered by Citigroup for the full year, dropping them from $3.14 50 $2.96, and also lowering earnings per share for 2011 from $3.62 50 $3.52.
Juvekar said share price range in the short term will probably be from $50 to $60 a share.
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