Bunge price target raised to $130 from $125 at BofA

BofA raised the firm’s price target on Bunge (BG) to $130 from $125 and keeps a Buy rating on the shares. The firm views Bunge’s Investor Day positively, given higher-than-expected midcycle EPS of $13-$15, an increase in the synergy target, and the discussion of additional margin-enhancing opportunities as the company leverages the combined platform and tech. The firm added that it believes the event was a hurdle that investors had to overcome for fear of a disappointing outlook, and now that the obstacle has passed, it believes the shares can power even higher.