Good Old Fashioned Genetically Modified Growth
August 27, 2008
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RELATED TICKERS: SYT
Good Old Fashioned Genetically Modified Growth
As someone who strongly believes that the analysts who are calling the recent run-up and slight pullback in the prices of agricultural commodities a "dot.corn" bubble have no idea what they are talking about, I have hung on to all of the ag plays in my portfolio.
One of them is the Swiss pesticide / biotech firm Syngenta (SYT). I personally look at it as a cheaper alternative to Monsanto (MON) which I am also bullish on, but do not own (other than in CAPS where I'm +151 on it :)).
Zacks published a bullish note on the company this afternoon. It reiterated its "Buy" rating and $65 six-month price target on SYT (which closed today at $52.92). Zacks stated that it believes that the depth of Syngenta's large number of products makes it one of the safest plays in the ag sector and that it should be trading at a higher multiple. It also believes that Sygenta management will successfully cut costs in the near future. Syngenta is also expected to begin showcasing its new Biotech pipeline in the near future, which could serve as a catalyst for the stock.
Syngenta Poised for Growth
Deej
Long SYT
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