Bunge Global, the Consumer Defensive sector company, was revisited by a Wall Street analyst today. Analyst Steven Haynes from Morgan Stanley maintained a Hold rating on the stock and has a $95.00 price target.
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Steven Haynes has given his Hold rating due to a combination of factors related to Bunge Global’s recent performance and future outlook. The company has recently updated its guidance, which led to an increase in the price target from $83 to $95. Despite the positive market reaction, Haynes notes that there is still limited information available about the drivers behind these results and the future outlook.
While the market appears optimistic, reflecting an annualized EPS run-rate and potential operational synergies, Haynes remains cautious. He acknowledges the company’s strong track record and conservative guidance but maintains an Equal-weight position due to the wide bull-bear skew and the need for more detailed information, expected in the upcoming 3Q call. The current assumptions are based on a top-down approach with broad bottom-up estimates, which are likely to be adjusted after more data becomes available.
In another report released on October 21, Barclays also maintained a Hold rating on the stock with a $105.00 price target.