The market isn't valuing Corteva (NYSE: CTVA) at a premium for its current business performance. Rather, the market believes that over the next few years, the seed and crop protection company will perform excellently, thus assigning premium multiples to its stock. Here's why Corteva is on a long-term growth trajectory. 

I'll start by looking at Corteva's current valuations, moving to what they could look like in a few years, and then discussing how the company can hit its earnings targets. 

As the charts below indicate, the stock doesn't look cheap today. 

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Source Fool.com