#2 - Corteva (NYSE:CTVA)
Corteva (NYSE:CTVA) brings a taste of the tech sector to agriculture. The company is engaged in the emerging area of agriscience. Generally speaking, Corteva is providing farmers with digital farm-management systems that give them access to the data they need to efficiently manage their crops for the highest yield.
The company currently has a P/E ratio of over 24x. That’s high for the sector, but perhaps investors can look past it as part of a “tech premium.” It will be easier for investors to ignore if the company hits estimates for double-digit earnings growth in the next five years.
To that end, in the company’s most recent earnings report, it reported that new product sales exceeded $1 billion for the first half of the year. That was a year-over-year increase of over 60%.
About Corteva
Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.
Read More - Current Price
- $57.48
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 14 Buy Ratings, 4 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $65.41 (13.8% Upside)
