Syngenta’s 2014 Guidance ‘Under Threat’: JPMorgan Cuts Rating
2014-06-30 06:47:57.131 GMT
By Chiara Remondini
June 30 (Bloomberg) -- Syngenta’s S/T trading likely to be
challenging, JPMorgan says in note.
* JPMorgan cuts to underweight vs neutral, PT CHF250 vs CHF340
* Trims 2014 organic growth est. to 4% from 6% on lower corn
seed, crop protection sales in North, South America
* Reduces 2014/15 EPS ests. by 5%/7%
* Brokerage sees below avg FCF generation potential in M/T
* Seeds business to weigh on group returns, sees slower growth
outlook for global seeds mkt
* Says unlikely Syngenta to be target of M&A bid, agro sector
already consolidated, antitrust issues would be “extremely
challenging”
* NOTE: Syngenta due to report 1H results on July 23
* NOTE June 23: Monsanto said to have weighed tax-inspired
deal for Syngenta
* NOTE June 26: DuPont cut earnings view for 2Q, yr
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To contact the reporter on this story:
Chiara Remondini in Milan at +39-02-8064-4241 or
cremondini@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2014-06-30 06:47:57.131 GMT
By Chiara Remondini
June 30 (Bloomberg) -- Syngenta’s S/T trading likely to be
challenging, JPMorgan says in note.
* JPMorgan cuts to underweight vs neutral, PT CHF250 vs CHF340
* Trims 2014 organic growth est. to 4% from 6% on lower corn
seed, crop protection sales in North, South America
* Reduces 2014/15 EPS ests. by 5%/7%
* Brokerage sees below avg FCF generation potential in M/T
* Seeds business to weigh on group returns, sees slower growth
outlook for global seeds mkt
* Says unlikely Syngenta to be target of M&A bid, agro sector
already consolidated, antitrust issues would be “extremely
challenging”
* NOTE: Syngenta due to report 1H results on July 23
* NOTE June 23: Monsanto said to have weighed tax-inspired
deal for Syngenta
* NOTE June 26: DuPont cut earnings view for 2Q, yr
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Chiara Remondini in Milan at +39-02-8064-4241 or
cremondini@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net