Bunge price target lowered to $108 from $125 at Baird

Baird lowered the firm’s price target on Bunge to $108 from $125 and keeps a Neutral rating on the shares. The firm said they are cautious entering 2024 and note that while they expect the Viterra merger to be a positive for the company operationally, varying estimates as to synergies and the timing of the deal’s closing may create noise in 1H24.