Market Overview

Citigroup Reiterates Top Pick on Bunge Limited

Share:
Related BG
Sugar Taxes To Trade Agreements: Good News, Bad News This Week For Cola Companies
Sugar Standoff: U.S. & Mexico Race To Ink Deal On Exports To Head Off Higher Prices

Citigroup has published a research report on Bunge Limited (NYSE: BG) reiterating the company as a Top Pick.

In the report, Citigroup writes, "We are increasing our above consensus 2012 EPS estimate by 5c to $6.95/sh following our recent meetings with BG mgmt, including Alberto Weisser, CEO. Mgmt's tone was very positive and suggests that BG is in store for significant improvements in profitability in 2012 driven by: 1) improving US soybean crush margins 2) favorable May rainfall which is boosting the prospects of the Brazilian sugar cane crop, 3) and the sharp devaluation in the Brazilian REAL in 2012, which is making Brazilian ag. exports more competitive and reducing Bunge's local Brazilian cost structure."

Citigroup maintains its Buy rating and $95 price target on Bunge, which is currently trading up 2.37% from yesterday's $59.03 closing price.

Latest Ratings for BG

DateFirmActionFromTo
May 2017JP MorganUpgradesUnderweightNeutral
Apr 2017JP MorganDowngradesNeutralUnderweight
Mar 2017Goldman SachsDowngradesBuyNeutral

View More Analyst Ratings for BG
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color News Reiteration Management Events Analyst Ratings

 

Related Articles (BG)

View Comments and Join the Discussion!