Corteva's (CTVA) spin-off of its seed business, Vylor, will be a "key rerating catalyst" with implied upside of roughly 30% or more from current levels, RBC Capital Markets said in a Thursday note.

The tax-free spin-off of Vylor is still on track for Oct. 1, with both post-spin-off entities committed to investment-grade ratings, RBC analysts said.

The scheduled Investor Days on Sept. 15 are expected to provide investors with multi-year standalone EBITDA targets, capital structure details, and strategic plans through 2029, and could be a positive catalyst, the analysts said.

Despite the spin-off of a strong growth piece of its business, the remaining Corteva entity will still have a $9 billion new-product pipeline for crop protection, with around $2 billion in new-product sales anticipated in 2026, the analysts said.

They noted that separation dis-synergies are expected to total about $50 million in 2026, below the original estimate of roughly $100 million, and are already included in the company's 2026 guidance.

Corteva's robust fundamentals will continue to underpin growth, and the recent weakness in its stock price is an "attractive" entry point for investors, RBC said.

RBC maintained the company's Outperform rating and $103 price target.

Price: 82.46, Change: +0.05, Percent Change: +0.07