Archer-Daniels-Midland, Bunge Global to Deliver 'Modest' Beats in Q1, Morgan Stanley Says

MT Newswires Live04-22 23:30

Archer-Daniels-Midland (ADM) and Bunge Global's (BG) Q1 financial results are both expected to "modestly" beat analyst estimates, Morgan Stanley analysts said in a Wednesday note to clients.

Archer-Daniels-Midland is scheduled to report Q1 results on May 5, while Bunge Global is planned for April 29.

Morgan Stanley said it prefers Bunge Global over Archer-Daniels-Midland, noting that synergy optionality positions Bunge Global better to meet or exceed investor expectations, while idiosyncratic risk at Archer-Daniels-Midland likely limits its upside potential.

Morgan Stanley analysts raised their Q1 adjusted earnings per share estimate for Archer-Daniels-Midland to $0.69 from $0.68. Analysts polled by FactSet are looking for $0.65.

For Bunge Global, Morgan Stanley increased its Q1 adjusted earnings per share estimate to $0.92 from $0.85. Analysts surveyed by FactSet expect $0.88.

Analysts have an underweight rating on Archer-Daniels-Midland, but increased its price target to $54 from $50. On Bunge Global, they have an overweight rating and a $140 price target.

Price: 69.69, Change: -0.14, Percent Change: -0.20

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