Bunge price target lowered to $129 from $141 at UBS

UBS lowered the firm’s price target on Bunge to $129 from $141 and keeps a Buy rating on the shares following quarterly results. Bunge continues engaging with relevant authorities in countries around the world as it makes progress on regulatory approvals needed to close the Viterra deal. Management believes given upfront integration cost, Viterra will be only mildly accretive in 2024. UBS said in a research note on Friday that it believes management is being conservative in guidance.