Citigroup Raises Bunge Global (NYSE:BG) Price Target to $122.00

Bunge Global (NYSE:BG) had its price objective hoisted by equities research analysts at Citigroup from $117.00 to $122.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Citigroup’s target price suggests a potential upside of 18.80% from the company’s current price.

Several other equities research analysts have also recently commented on BG. HSBC raised Bunge Global from a “hold” rating to a “buy” rating and cut their price target for the company from $122.00 to $105.00 in a report on Friday, February 9th. The Goldman Sachs Group cut their price target on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Roth Mkm cut their price target on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a report on Monday, February 5th. Barclays cut their price target on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, January 23rd. Finally, BMO Capital Markets lowered their price objective on Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

Bunge Global Price Performance

Shares of Bunge Global stock opened at $102.69 on Thursday. The business has a 50 day simple moving average of $99.50 and a two-hundred day simple moving average of $99.99. Bunge Global has a 12 month low of $86.10 and a 12 month high of $116.59. The stock has a market capitalization of $14.48 billion, a P/E ratio of 8.27 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.99 and a quick ratio of 1.20.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The business had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same quarter in the prior year, the firm earned $3.26 earnings per share. The business’s revenue was down 12.5% compared to the same quarter last year. As a group, analysts predict that Bunge Global will post 9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BG. Loomis Sayles & Co. L P boosted its position in shares of Bunge Global by 169.8% during the third quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock worth $25,000 after buying an additional 146 shares during the period. NewSquare Capital LLC purchased a new position in shares of Bunge Global during the fourth quarter worth $37,000. Rise Advisors LLC boosted its holdings in Bunge Global by 40.6% in the fourth quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 117 shares during the period. Riverview Trust Co purchased a new position in Bunge Global in the first quarter valued at $46,000. Finally, Ramirez Asset Management Inc. purchased a new position in Bunge Global in the third quarter valued at $54,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Company Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.