Downgrades: MON, FORM Thursday, September 2, 2:00 PM ET
This morning, Citigroup lowered its 2010 EPS estimates on shares of Monsanto (NYSE:MON) to $2.42 per share as the company is taking charges this year for its restructuring. Also impacting earnings this year has been the shift from corn to soybeans in Brazil. In the report, Citigroup maintained its buy rating and its price target of $62 per share.
In morning trading, Monsanto shares were basically flat, up just a few pennies so far.
And Barclays lowered its price target on shares of FormFactor (NASDAQ:FORM) to $6 as the company continues to burn through its cash reserves. In the report, Barclays lowered its 2010 EPS estimates to a loss of of $2.30 per share.
Shares of FormFactor were sharply higher today, despite the report, gaining almost 5.5%.
