BUZZ-BofA raises PT on Bunge

Reuters12-02
BUZZ-BofA raises PT on Bunge

** BofA Global Research raises price target on grain trader Bunge BG.N to $112 from $95

** The new PT represents a 16.1% upside to stock's last close

** Brokerage expects synergies from Viterra deal and organic investments to support growth

** "We assume that most of the synergy capture will be materialized by year end 2027 and market dynamics will improve," - BofA

** Brokerage says it favors BG's significant exposure to South America which it believes will be very competitive in the global agri markets vs the U.S.

** Nine out of 12 brokerages rate stock "buy" and 3 "hold"; median PT is $109 - data compiled by LSEG

** Up to last close, BG was up 24% YTD

(Reporting by Dharna Bafna in Bengaluru)

((dharna.bafna@thomsonreuters.com))

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