Corteva Inc (NYSE:CTVA) Inc shares face headwinds as the agricultural macroeconomic setup into 2026 looks “challenging” with subdued grain prices pressuring farmer margins, Citi analysts wrote in a note to clients on Thursday.
They downgraded Corteva to ‘Neutral’ from ‘Buy’ with a target price of $67 per share.
Corteva shares fell 9% on Wednesday after the company said it would spin off its Seeds business.
The analysts believe the move “adds more questions to an already uncertain backdrop,” despite being encouraged by CEO Chuck Magro’s comments on unlocking new growth and optimization opportunities as two standalone companies.
They added that Corteva’s challenges heighten the risk of potential downward revision to the company’s fiscal 2026 and 2027 targets.
Shares of Corteva rose 2.6% to $63.05 in late-morning trading on Thursday.