Berenberg slashes price target on Corteva Inc [CTVA] – find out why.

Corteva Inc [NYSE: CTVA] loss -0.37% on the last trading session, reaching $45.24 price per share at the time. The company report on December 22, 2023 at 6:45 AM that Chemours, DuPont, and Corteva Provide Update and Affirm Support for PFAS Settlement with U.S. Water Systems.

The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD) and Corteva, Inc. (NYSE: CTVA) (the “Companies”) today announced their continued support for the June 30, 2023, agreement to comprehensively resolve PFAS1-related drinking water claims of a defined class2 of public water systems.

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On December 20th, the notice administrator in the South Carolina aqueous film-forming foam multi-district litigation (“AFFF MDL”) requested an extension until January 3, 2024, to file with the United States District Court for the District of South Carolina the list of public water systems that have opted out of the settlement class.

If compared to the average trading volume of 4.14M shares, CTVA reached a trading volume of 3958072 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Corteva Inc [CTVA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTVA shares is $58.35 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTVA stock is a recommendation set at 1.63. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Berenberg have made an estimate for Corteva Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 27, 2023.

The Average True Range (ATR) for Corteva Inc is set at 0.91, with the Price to Sales ratio for CTVA stock in the period of the last 12 months amounting to 1.84. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 4.09.

Trading performance analysis for CTVA stock

Corteva Inc [CTVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.87. With this latest performance, CTVA shares dropped by -4.68% in over the last four-week period, additionally sinking by -18.91% over the last 6 months – not to mention a drop of -27.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTVA stock in for the last two-week period is set at 42.60, with the RSI for the last a single of trading hit 41.14, and the three-weeks RSI is set at 43.75 for Corteva Inc [CTVA]. The present Moving Average for the last 50 days of trading for this stock 46.24, while it was recorded at 45.33 for the last single week of trading, and 52.21 for the last 200 days.

Corteva Inc [CTVA]: A deeper dive into fundamental analysis

Corteva Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.97 and a Current Ratio set at 1.58.

Corteva Inc [CTVA]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Corteva Inc posted 0.16/share EPS, while the average EPS was predicted by analysts to be reported at 0.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 220.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CTVA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Corteva Inc go to 10.02%.

An analysis of Institutional ownership at Corteva Inc [CTVA]

The top three institutional holders of CTVA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CTVA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CTVA stock with ownership which is approximately 5.8325%.