Morgan Stanley lowered the firm’s price target on Bunge (BG) to $74 from $90 and keeps an Equal Weight rating on the shares. Ahead of Q3 reporting, the firm notes it outlined its view that 2025 EPS should be biased lower with supply risk outweighing upside potential from demand and, exiting Q4 reporting, this path of least resistance has “proven out to be lower and more 2H-weighted than previously expected,” says the analyst, who is reducing estimates and price targets for Archer Daniels (ADM) and Bunge.
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