Monsanto Company (MON) Price Target Lowered At Bank of America Merrill Lynch

March 25, 2015 7:17 PM

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Ahead of Monsanto Company's (NYSE:MON) earnings report for the second quarter (2Q), which will be released on April 1, Bank of America has reduced fiscal 2015 (FY15) earnings per share (EPS) by $0.10 to $5.75 to reflect the strongest-ever US dollar. Likewise, the sell-side firm has also slashed its FY16 EPS by $0.10 to $6.5, while decreasing its price objective from $142 to $140.

Analyst stated that Brazilian Real (BRL) alone has weakened 20% year-to-date and 42% since Monsanto formulated its FY15 EPS growth range of 10-15% in August 2014.

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