Coverage initiated on Monsanto by Credit Suisse

Credit Suisse initiated coverage on DuPont (DD: with an outperform rating and a 343 Swiss franc price target. "Genetically modified seed will almost certainly be the most important element to addressing growing world food demand over the next half decade," the broker said. It said that DuPont's number two seed position in North America looks secure, but the gap with Monsanto is likely to grow. Meanwhile, Monsanto's market leadership also looks secure for much of the next decade, but there are fewer near-term catalysts for the stock. On Syngenta, the broker said that its position in seed may come under pressure but its leading position in agricultural chemicals is likely to keep investors happy. Syngenta shares fell 1.4% in Swiss trading