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UPDATE: Bank of America Upgrades Bunge Ltd. on Upside to Estimates Over Upcoming Quarters

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In a report published Monday, Bank of America analyst Bryan D. Spillane upgraded the rating on Bunge Ltd. (NYSE: BG) from Neutral to Buy, and raised the price target from $78.00 to $90.00.

In the report, Bank of America noted, “We are upgrading Bunge from Neutral to Buy as we see upside to estimates over the next few quarters due to the large US corn and soybean crops, outlook for another record grain crop in Brazil for the 2013/14 harvesting season, the outlook for improved FCF, potential use of proceeds from sale of Fertilizer business to Yara, and increased focus on ROIC.”

Bunge Ltd. closed on Friday at $80.79.

Latest Ratings for BG

DateFirmActionFromTo
May 2016Credit SuisseMaintainsOutperform
Apr 2016CitigroupMaintainsBuy
Apr 2016JP MorganDowngradesOverweightNeutral

View More Analyst Ratings for BG
View the Latest Analyst Ratings

Posted-In: Bank of America Bryan D. SpillaneAnalyst Color Upgrades Analyst Ratings

 

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