Deutsche Bank Upgrades Bunge (BG) to Buy; Improving Returns on Infrastructure

Deutsche Bank upgraded Bunge (NYSE: BG) to Buy. PT increased from $74 to $80.

Deutsche analyst says, "Though 2011 continues to be a transition year as the retail fertilizer business is separated from nutrients, and mgmt. gains a better understanding of the sugar & bioenergy business, we see the current share price as a good entry point. Lower sugar volume for 2011 is known by the market, while the fertilizer business should be solid, given farm economics. Agribusiness results turn to Brazil seasonally, where margins and supply visibility are strong...Raising FY11 EPS from $5.90 to $6.50, based on higher margin estimates."

For more ratings news on Bunge click here and for the rating history of Bunge click here.

Shares of Bunge closed at $69.32 yesterday.

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