Goldman Sachs (NYSE:GS) refuses to give up on Monsanto (NYSE:MON), even after its dismal quarterly results, and even worse, the performance of the stock so far in 2010, which is down 43 percent.
Analysts from the giant financial company wrote this, "...following MON's earnings conference call and conversations with management and investors, we are confident now is the ideal time to buy this stock." Also they asserted that "despite strategic missteps and abysmal stock performance, MON remains the most discussed chemical stock. Following such a traumatic period, the arrival of any positive data should drive a robust recovery in the share price."
Of course the problem for Monsanto is where the positive data will come from, as there hasn't been a lot of good news from them, and there's little going forward to see that changing in the near term.
It would take a leap of faith to invest in Monsanto now, even with the relatively low stock price. Goldman has a 12-month price target of $65 a share on the company. It was trading in New York at $46.00 as of 4:00 PM EDT.
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