Corteva continues to impress us

Article Excerpt

New public companies usually start off slow, like Bausch + Lomb, but can go on, like Corteva, to post big gains. Even so, we recommend just one of the two for new buying. CORTEVA INC. $56 is a buy. The company (New York symbol CTVA; Manufacturing sector; Shares outstanding: 723.7 million; Market cap: $40.5 billion; Dividend yield: 1.0%; Takeover Target Rating: Medium; makes seeds and crop-protection chemicals. On June 1, 2019, DuPont de Nemours Inc. (New York symbol DD), formerly known as DowDuPont, set up Corteva (its agriculture business) as a separate company. DuPont shareholders received one Corteva share for every three shares they held. In the quarter ended March 31, 2022, revenue rose 10.1%, to $4.60 billion from $4.18 billion a year earlier. Sales were led by gains in Europe and Latin America. As well, the company was able to raise prices by 8%. Higher prices in all regions helped to offset the impact of ongoing inflation for raw materials and other increasing expenses. Excluding…

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