Bunge price target lowered to $115 from $125 at Barclays

Barclays lowered the firm’s price target on Bunge to $115 from $125 and keeps an Overweight rating on the shares. The firm says new U.S. soy crush capacity is pressuring soybean oil and meal prices, adversely impacting crush for the medium term. While demand for soybean meal in general is steady to slightly growing, the current excess meal supply is not properly absorbed, creating negative market sentiment during a usually seasonally positive environment, the analyst tells investors in a research note. However, the firm still sees “decent upside potential” from Bunge’s merger with Viterra.