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Biotech / Medical : Monsanto Co.

MTC 3.190

+15.2%

Feb 2 3:59 PM EST

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To: JGoren who wrote (2526)	2/3/2000 5:40:00 AM
From: JGoren	of 2539

RESEARCH ALERT - Monsanto cut to outperform NEW YORK, Feb 2 (Reuters) - Salomon Smith Barney said Wendsday analyst James Wilbur reduced his rating of Monsanto <MTC.N> to outperform from buy to correspond with merger partner Pharmacia's <PNU.N> upgrade to outperform from neutral. Tuesday, the new Pharmacia management reviewed the outlook for the merged company. In agriculture, revenue growth in the 10 percent-12 percent per year range and earnings growth of 15 percent is expected based on strong Roundup herbicide and improving seed sales. Genetics is now only 8 percent of earnings. Stock has recovered from low following merger announcement. Outlook still positive, we like the combined pharmaceutical sales and earnings potential. Monsanto up 1-1/4 to 39-3/4 in late Wednesday morning trading. Pharmacia was up 2-5/16 to 51-1/8 on the New York Stock Exchange. 11:41 02-02-00

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