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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: A.J. Mullen who wrote (33391)	1/16/2010 11:44:59 AM
From: Arthur Radley	Read Replies (1) \| Respond to of 52153

Ashley, I'm not defending Monsanto, I'm only speaking to the need for science to address the food supply issue. In fact, I would never own stock in MON because of their business practices. One can hope that their science is good, so as to make up for their business dealings. (:<) As you pointed out the press release you referred hasn't gotten much attention in the main stream media, however, I did see one internet site that had an article earlier in the week. Barron's Today: Only one analyst opinion but in today’s edition of Barron’s in the Research Reports section this is what one said for the basis of his (SELL) recommendation for Monsanto (MON)— “ We attended MON’s research and development pipeline meeting in NYC –the company provided detail on upcoming advances—Although the pipeline remains robust and is clearly superior to its competitors, we do not believe there was anything new – of immediate significance. We remain cautious on the selling season in North America, where MON’s higher-priced seeds and new products face increased competition and discounting. The highlighted projects seem additive, not blockbusters –Our 68 target represents a 12 times enterprise value//Ebitda multiple on the seed and traits business’s 2010 Ebitda, plus the approximate $4 B in value we ascribed to the ag-productivity segment. We think the 12 times multiple is appropriate for a business that has strong growth and returns, but also takes into consideration a more difficult competitive environment.”