NEW YORK (TheStreet) -- Shares of Monsanto Co. (MON) are up 6.11% to $127.98 in early trading after it raised its full-year 2014 outlook to the upper end of its previous guidance in the range of $5.10 to $5.20 from $5.00 to $5.20.
The maker of genetically engineered seeds also announced a $10 billion share buyback program and said it planned to double earnings over the next five years.
In the fiscal third quarter it reported net profit of $858 million, or $1.62 a share, down from $909 million, or $1.68 a share, in the same period a year ago.
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TheStreet Ratings team rates MONSANTO CO as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate MONSANTO CO (MON) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."