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Fly News Breaks for February 22, 2019
BG
Feb 22, 2019 | 08:32 EDT
BMO Capital analyst Kenneth Zaslow lowered his price target on Bunge to $72 after its Q4 earnings miss driven by a higher tax rate and expectations of flat FY19 EPS because of lower Agribusiness profits. The analyst also keeps his Outperform rating, saying investment in the stock may be "ripe" because of the appointment of new management, "severe earnings rebase", potential asset sales, cost savings opportunities, and limited downside given its current price relative to $48-$49 per share book value.
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