UPDATE: JPMorgan Assumes Bunge (BG) at Neutral

JPMorgan analyst Thomas Palmer assumes coverage on Bunge (NYSE: BG) with a Neutral rating and a price target of $94.00.

The analyst comments "In our view, BG’s operational and structural improvements warrant a higher valuation for the shares than in the past. But this is already reflected in the stock’s current valuation. We expect the company’s profit to be pressured over the next couple of years by lower refined oil margins in 2022 and lower crush margins in 2023. Given the cyclical nature of BG’s operations, we think mounting earnings pressure could limit upside in the shares."

For an analyst ratings summary and ratings history on Bunge click here. For more ratings news on Bunge click here.

Shares of Bunge closed at $97.76 yesterday.

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