Gabelli & Company Maintains Monsanto Buy (MON)

Gabelli & Company maintained its Monsanto MON Buy rating in a research report published today. In the report, Gabelli states, "Monsanto has acquired Divergence Inc., a private St. Louis-based biotechnology research company. Divergence products are primarily in the research and development phase and show promise for treating nematodes. Divergence and Monsanto have been collaborating on research since August of 2004. No financial information was disclosed however we view this as a small tuck-in acquisition that is in line with Monsanto business operations. We maintain our buy recommendation, as Monsanto will continue to benefit from current agricultural conditions and is a clear leader in genetically modified seed technology." Shares of Monsanto were trading at $71.00 in pre-market trading at the time of posting, down 0.36% from Tuesday's market close.