Goldman Sachs analyst Adam Samuelson has maintained their bullish stance on BG stock, giving a Buy rating today.
Adam Samuelson’s Buy rating on Bunge’s stock is predicated on a thorough analysis of the company’s financial outlook and market position in the agribusiness sector. Despite lowering the fourth-quarter earnings per share (EPS) estimate to reflect a slight downturn in cyclical indicators such as soybean crush margins and origination spreads, Samuelson remains optimistic about Bunge’s performance. The revision takes into account recent market changes and modest adjustments in the company’s agribusiness operations.
Furthermore, Samuelson has adjusted the EPS estimates for the years 2024 and 2025, taking a more conservative stance due to anticipated declines in soybean crush margins and potential decreases in crop origination activities. Despite these revisions, the analyst maintains a positive projection for Bunge’s longer-term financial health, underscored by a reduced but still robust price target of $141. The Buy rating is thus reflective of a balanced view, acknowledging near-term challenges yet confident in the company’s ability to navigate market fluctuations and sustain growth.
Samuelson covers the Consumer Defensive sector, focusing on stocks such as Darling Ingredients, Cal-Maine Foods, and Tyson Foods. According to TipRanks, Samuelson has an average return of 3.3% and a 47.24% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $115.00 price target.
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Bunge (BG) Company Description:
Bunge Ltd. operates as a holding company, which engages in the supply and transportation of agricultural commodities. It operates through the following segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy and Fertilizer. The Agribusiness segment involves in the purchase, storage, transportation, processing, and sale of agricultural commodities and commodity products. The Edible Oil Products segment includes production and sale of vegetable oils, shortenings, margarines, and mayonnaise. The Milling Products segment consists of production and sale of wheat flours, bakery mixes, corn-based products, and rice. The Sugar and Bioenergy segment comprises manufacture and marketing of sugar and ethanol derived from sugarcane, as well as energy derived from the sugar and ethanol production process. The Fertilizer segment focuses on producing, blending, and distributing fertilizer products for the agricultural industry. The company was founded by Johann Peter Gottlieb Bunge in 1818 and is headquartered in White Plains, NY.
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