UPDATE: Bank of America Merrill Lynch Raises PO on Monsanto to $80

Bank of America Merrill Lynch is out with its report today on Monsanto MON, raising its PO from $76 to $80. In a note to clients, Bank of America Merrill Lynch writes, "We raise our EPS estimates by $0.10 in FY2011 and FY2012 to $2.90E and $3.35E respectively with a consequent increase in our PO to $80 from $76." Bank of America Merrill Lynch maintains Neutral on MON. Shares of MON closed Wednesday at $70.26, up 5.02% from Tuesday's close.