Analyst Robert Burleson of Canaccord Genuity maintained a Buy rating on Bioceres Crop Solutions (BIOX – Research Report), with a price target of $18.00.
Robert Burleson has given his Buy rating due to a combination of factors related to Bioceres Crop Solutions’ performance and market dynamics. Burleson’s optimism stems from the company’s robust financial results, where both revenue and EBITDA surpassed market expectations for the December quarter. The improvement was attributed to enhanced Crop Protection dynamics due to better weather conditions and a favorable inventory position for their HB4 wheat product line. Additionally, the devaluation of the Argentinian Peso has positively impacted BIOX’s cost structure, which bodes well for future profitability.
The projection for Bioceres Crop Solutions suggests a strong year ahead, with anticipated double-digit revenue growth and single-digit growth in adjusted EBITDA. Despite a potential decrease in profit sharing from Syngenta, the core business is expected to see profit expansion. Burleson also highlights the significant growth in bioprotection products and a substantial 34% year-over-year increase in Crop Protection revenue. Furthermore, the analyst notes the company’s successful expansion in Argentina and Brazil, including a sevenfold increase in HB4 Soy planted hectares in Brazil, indicating a promising scale-up and market penetration. These factors collectively contribute to the analyst’s positive outlook and the maintenance of an $18 price target for BIOX.
In another report released today, Oppenheimer also maintained a Buy rating on the stock with a $17.00 price target.
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Bioceres Crop Solutions (BIOX) Company Description:
Union Acquisition Corp. is a blank check company, which engages in the provision of merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses. The company was founded on November 14, 2017 and is headquartered in New York, NY.
