BUZZ-Morgan Stanley upgrades Bunge to 'overweight', raises PT

Reuters12-16
BUZZ-<a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> upgrades Bunge to 'overweight', raises PT

** Shares of agribusiness and food company Bunge BG.N rise ~1% to $93.48

** Morgan Stanley upgrades stock to "overweight" from "equal weight"; raises PT to $120 from $95

** New PT represents a ~30% premium to stock's last close

** Brokerage says merger with Viterra acts as both a "catalyst and key differentiator for Bunge", given operational and commercial synergies

** Expects Bunge's EPS baseline to move higher on March 10, its Investor Day

** MS currently forecasts BG's mid-cycle EPS baseline at ~$12 versus co's outlook of $8.50

** 10 of 12 brokerages rate the stock "buy" or higher, two "hold"; median PT is $110 - LSEG data

** Including session's moves, stock up 20% YTD

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))

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