Syngenta upgraded to outperform at Credit Suisse

Date:10-06-2009

wiss agrichemicals firm Syngenta was upgraded to outperform from neutral on Monday by Credit Suisse, which cited attractive valuation. The investment bank said the bad news -- recent profit warnings from Monsanto and Bayer -- is already priced into the stock. "We have long been conservative on the outlook for first-half 2009, and believe investors should use this opportunity to look forward to more positive earnings in 2010," said Credit Suisse. The investment bank added that 2010 should be more interesting regarding seed development, especially with Sygentas depressed share price.