JPMorgan Chase & Co. Issues Pessimistic Forecast for Corteva (NYSE:CTVA) Stock Price

Corteva (NYSE:CTVA) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $19.00 to $16.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 69.94% from the stock’s previous close.

Several other research firms have also issued reports on CTVA. Morgan Stanley restated an “overweight” rating and set a $18.00 price target on shares of Corteva in a research report on Friday, October 2nd. Oppenheimer downgraded Corteva from an “outperform” rating to a “market perform” rating in a report on Friday. Royal Bank Of Canada lowered their target price on Corteva from $17.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday. Weiss Ratings cut Corteva from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Finally, Mizuho set a $16.00 target price on Corteva in a report on Thursday. Fifteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.60.

Corteva Trading Up 2.4%

NYSE:CTVA traded up $0.23 during trading hours on Friday, reaching $9.41. The company’s stock had a trading volume of 28,888,260 shares, compared to its average volume of 21,957,566. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 4.96, a PEG ratio of 1.72 and a beta of 0.58. The firm has a 50-day simple moving average of $37.22 and a 200-day simple moving average of $69.57. Corteva has a 1 year low of $9.01 and a 1 year high of $90.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.10 and a current ratio of 1.56.

Hedge Funds Weigh In On Corteva

A number of hedge funds and other institutional investors have recently made changes to their positions in CTVA. Marshall Wace LLP purchased a new stake in Corteva in the third quarter worth $49,716,000. Empowered Funds LLC boosted its holdings in Corteva by 19.2% in the third quarter. Empowered Funds LLC now owns 166,687 shares of the company’s stock valued at $12,943,000 after acquiring an additional 26,833 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Corteva by 25.6% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 35,474 shares of the company’s stock valued at $2,755,000 after purchasing an additional 7,229 shares during the period. State Board of Administration of Florida Retirement System increased its position in Corteva by 7.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 626,690 shares of the company’s stock valued at $48,662,000 after purchasing an additional 44,445 shares during the period. Finally, Mosaic Family Wealth Partners LLC purchased a new position in Corteva during the 3rd quarter valued at $204,000. Institutional investors own 81.54% of the company’s stock.

Key Headlines Impacting Corteva

Investors following CTVA have been watching these headlines:

• Positive Sentiment: Corteva pointed to new products and cost-cutting efforts as supports for a potential recovery, though these measures have not offset near-term weakness. Corteva Q3 Earnings Call Highlights Brazil Woes and Outlook Cut
• Negative Sentiment: The earnings miss and lowered full-year outlook are the key near-term headwinds, with Brazil weakness and competitive pricing hurting results. Reuters report on Brazil weakness and forecast cut
• Negative Sentiment: Law firms announced investigations into potential securities-law violations related to company disclosures. These are allegations under investigation, not findings of wrongdoing, but may add uncertainty for investors. Law firm investigation announcement

About Corteva

Corteva, Inc. is an agricultural science company that develops and supplies products and services for farmers. Its business focuses on seeds and crop protection, including technologies intended to help improve crop performance and manage weeds, insects, and plant diseases. Its seed portfolio includes corn, soybean, and other crop varieties, sold under brands such as Pioneer and Brevant. Corteva’s crop protection offerings include herbicides, insecticides, fungicides, and biological products, alongside digital tools and services that support farm decision-making.