| 2019-06-03 08:33:21|
CTVA 08:33 06/03 06/03/19
Corteva initiated with a Hold at SunTrust
SunTrust analyst James Sheehan initiated Corteva with a Hold rating and a price target of $29. The analyst says the company should generate strong growth thanks to its "dominant market position and product pipeline" relative to its peers, with cost synergies still expected to be driven by the merger of DuPont and Dow. Sheehan also warns that Corteva's near-term upside may be contained by the headwinds in the U.S. business and the escalating trade tensions, adding that its 9-times expected forward EBITDA valuation is "fair."