Biotech Values

[DewDiligence]

EVGN—Miscellaneous analyst opinions:

http://www.theflyonthewall.com/permalinks/entry.php/EVGN;MON;DD;BAYRYid1934536/EVGN;MON;DD;BAYRY-Evogene-slides-after-Piper-says-shares-lack-near-term-catalyst

Evogene (EVGN), a plant genomics company which uses technology to restructure seed traits to improve crop productivity, was initiated with an Outperform at Oppenheimer and Credit Suisse this morning. Meanwhile, PiperJaffray initiated the company with a Neutral.

Credit Suisse analyst Christopher Parkinson wrote in a note to investors that Evogene is well positioned to benefit from the secular need to enhance crop yield productivity. The company has collaborative agreements with a number of industry leaders, including Monsanto (MON), DuPont (DD), and Bayer (BAYRY), and a pipeline of 21 products, noted Parkinson, who began coverage of the stock with an Outperform rating and $25 price target.

Meanwhile, PiperJaffray analyst Michael Cox also said that Evogene’s partnerships with market leaders, as well as equity investments made by some of these larger companies, validate Evogene's technology. However, Cox believes Evogene lacks near-term catalysts to lift its stock further than it has already come since its IPO and initiated coverage of the stock with a Neutral rating and $22 target.