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Fly News Breaks for May 4, 2017
BG
May 4, 2017 | 07:43 EDT
Credit Suisse analyst Robert Moskow lowered his price target for Bunge to $80 from $85 following a "highly disappointing" Q1 earnings miss and forecast reduction. While he thinks "the massive pullback" in the stock is overdone, the stock will be in the "penalty box" until the company shows some signs that it can return to more normalized margins in an oversupplied global grain market. He reiterates an Outperform rating on the shares.
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