02 July 2009 10:59 [Source: ICIS news]
LONDON (ICIS news)--Deutsche Bank has increased its earnings forecasts for Swiss agribusiness Syngenta for the next three years due to an expectation of strong growth from the company's new products, the bank said on Thursday.
Syngenta’s earnings per share (EPS) forecast for 2010-2012 was raised by 3-8% due to “improved confidence on industrial growth and structural industry-wide improvements in agrochemicals”, the bank said.
Deutsche Bank said top-line growth in crop protection, which is 77% of Syngenta’s sales, would be supported by the launch of a series of “blockbuster agrochemicals” from 2010 and a doubling of capacity for two leading products.
The seeds business was expected to benefit from an expansion of its genetically modified (GM) seed offering in higher-value technologies.
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