Analysts from Citigroup Inc (NYSE:C) wrote in a note to clients Friday that they're maintaining their "Buy" rating on the seed giant Monsanto (NYSE:MON) with a price target of $62.00.
News on Monsanto has been mixed lately, as they've made decisions to lower some of their seed prices in 2011 by as much as 75 percent to drive sales, which have been down because farmers have battled them on the high costs.
Negative news was the recent decision by a federal judge to ban the planting of new Roundup ready sugar beet seeds, which could have a dramatic impact on the company.
Over 50 percent of all sugar grown in the U.S. comes from sugar beets, and 95 percent of that comes from the Roundup ready sugar beet seeds of Monsanto, which could have a major affect on sugar prices if the ruling is held up ... assuming an appeal.
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