Analyst Salvator Tiano from Bank of America Securities reiterated a Buy rating on Bunge Global and increased the price target to $112.00 from $95.00.
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Salvator Tiano has given his Buy rating due to a combination of factors that highlight Bunge Global’s potential for strong earnings growth and value creation. The company is undergoing a transformation with a comprehensive rework of its operations, including a focus on key earnings drivers and a diverse portfolio that processes over 200 million tonnes of commodities annually, primarily in South America.
Tiano’s confidence is bolstered by the anticipated synergies from the Viterra deal, projected to bring significant shareholder value. The company’s strategic positioning in South America is expected to enhance its competitiveness in global agricultural markets. Additionally, favorable regulatory conditions in the U.S. are likely to support North American operations. With raised earnings forecasts and a new price objective of $112, Tiano sees considerable upside potential in Bunge Global’s stock.
Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BG in relation to earlier this year.