Bunge price target lowered to $141 from $160 at Goldman Sachs

Goldman Sachs analyst Adam Samuelson lowered the firm’s price target on Bunge to $141 from $160 but keeps a Buy rating on the shares ahead of its Q4 results on February 7th. The firm is updating its model to reflect the recent moderation in cyclical indicators for grain and oilseed markets, namely soybean crush margins and origination spreads in upstream Crushing / Merchandising, the analyst tells investors in a research note. The focus on the conference call should center on Bunge management’s updated cyclical outlook, including how it anticipates recent FX devaluation and how prospects of a substantially improved soybean crop in Argentina would impact the company’s in-country and global operations, the firm added.