Syngenta gains after Goldman upgrade
Oct. 22, 2008
Syngenta AG shares gain 7.2 percent after Goldman Sachs raises its rating on the agrochemicals companys stock to buy from neutral, citing good growth prospects, strong balance sheet and leadership position in crop protection.
We believe the recent decline in Syngentas share price provides an attractive entry point, Goldman analysts say in a note.
On a relative basis, we believe that the consolidated crop protection industry is more defensively positioned than commodity chemicals or most of the specialty chemical names, they add.
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