santosha/E+ via Getty Images Thesis I rate Adecoagro S.A. (NYSE:AGRO) a Hold with an end-of-year price target of $14.41, which represents a potential 30% upside to its current price of ~$10.80/share. Using an EV/EBIT multiple of 10x and estimating the EBIT across AGRO's three largest segments, Sugar & Ethanol, Rice, and Dairy, my model suggests AGRO's share price to be worth upwards of $14.41 by the end of 2024, contingent on sugar prices around or above 20 cents/lb. Compared to years prior, Adecoagro has d ...