JPMorgan analyst Thomas Palmer raised the firm’s price target on Bunge (BG) to $107 from $95 and keeps an Overweight rating on the shares. The company reduced its 2025 earnings guidance for the Viterra acquisition and current industry trends by far less than anticipated, the analyst tells investors in a research note. The firm views the rally yesterday as warranted as sees further upside in the shares. Viterra’s earnings “seem to be in a better place than feared,” and Bunge can drive earnings growth over the next couple of years, contends JPMorgan.
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