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Fly News Breaks for January 16, 2019
AGRO
Jan 16, 2019 | 07:50 EDT
As previously reported, Morgan Stanley analyst Javier Martinez de Olcoz Cerdan downgraded Adecogro to Equal Weight from Overweight and lowered his price target on the shares to $9.70 from $10.40, as he thinks downward consensus revisions and electoral uncertainties in Argentina will affect valuation in the near-term. He added that he believes Adecogro can be a late-cycle opportunity with catalysts for a re-rating expected to come "next year or later."
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