| 2018-01-22 07:51:19|
ADM, BG 07:51 01/22 01/22/18
Archer Daniels could pay upwards of $96 per share for Bunge, says Stifel
After The Wall Street Journal reported that Archer Daniels Midland (ADM) had made a takeover approach to Bunge (BG), Stifel analyst Vincent Anderson said that strategically he sees such a potential deal as a relatively logical fit given that Bunge's business would "go a long way" to diversifying Archer Daniels' geographic exposure. He believes that Archer Daniels can pay upwards of $96 per share for Bunge while still making an accretive deal, Anderson tells investors. While also adjusting his estimates ahead of its Q4 report, Anderson trimmed his price target on the stock to $43 from $44 and keeps a Hold rating on Archer Daniels.