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Bunge assumed with an Equal Weight at Morgan Stanley
The Fly

Bunge assumed with an Equal Weight at Morgan Stanley

Morgan Stanley analyst Steven Haynes assumed coverage of Bunge with an Equal Weight rating with a price target of $105, down from $120. The firm’s mid-cycle framework leads it to have a wider baseline EPS range versus company issued targets, balancing the risk of normalized supply and the upside from structural demand improvements, says the analyst, who notes that in the firm’s base case it sees Bunge’s 2026 baseline EPS in a range of $9-$12 versus the company’s guidance of about $11 per share. Simultaneous with the analyst change, the firm is also raising its Agricultural Products industry view to In-Line from Cautious.

Published first on TheFly

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