Zacks Investment Research upgraded shares of Syngenta AG (SYT) from UNDERPERFORM to NEUTRAL on December 30, 2013, with a target price of $84.00.
We are upgrading our recommendation on Syngenta to Neutral from Underperform based on the company's initiative to streamline its asset portfolio, enabling it to focus on the core assets. In view of the same, the company sold its Dulcinea Farms business recently. In the third quarter of 2013, Syngenta witnessed a rise in sales of selective herbicides by 14% year over year, due to strong demand for corn and soybean in the U.S. as well as Brazil. Additionally, Syngenta has been launching products in the Crop Protection segment which are expected to drive growth further. The company also bears a strong balance sheet with a healthy dividend payout, increasing our confidence in the stock.
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