Morgan Stanley (NYSE:MS) downgraded Monsanto (NYSE:MON) today, citing the disappointing performance of the Roundup lawn treatment unit.
Another analyst at Jefferies & Company, Laurence Alexander, also said the company needs to take a second look at its glyphosate strategy in the near future, even though it accounts for only 7 percent of the company's EBITDA.
Jefferies has a hold rating on Monsanto, and has reduced his price target from $71 50 $63.
Morgan Stanley has the stock rated as "Overweight," and lowered its earnings estimate to $70, as well as lowered earnings estimates through 2012 too.
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