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BG

Bunge

$74.60

-4.45 (-5.63%)

, ADM

Archer Daniels

$41.82

0.48 (1.16%)

07:12
02/15/18
02/15
07:12
02/15/18
07:12

Bunge upgraded on bottoming ag fundamentals, M&A potential at Stephens

As previously reported, Stephens analyst Farha Aslam upgraded Bunge to Overweight from Equal Weight, citing her view that ag fundamentals are now bottoming and its earnings should begin to recover. Also, Bunge has been considered a takeout target, with interest reported from Archer Daniels (ADM) and Glencore (GLNCY), noted Aslam, who believes Bunge could be valued at $90-$95 per share in an M&A situation. The analyst raised her price target on Bunge shares to $90 from $72.

BG

Bunge

$74.60

-4.45 (-5.63%)

ADM

Archer Daniels

$41.82

0.48 (1.16%)

GLNCY

Glencore

$10.86

0.405 (3.87%)

  • 30

    May

BG Bunge
$74.60

-4.45 (-5.63%)

01/22/18
SBSH
01/22/18
NO CHANGE
SBSH
Citi sees $85-$100 per share as 'appropriate' deal price for Bunge
Citi analyst David Driscoll believes $85-$100 per share is an "appropriate" takeover price for Archer Daniels Midland (ADM) to pay for Bunge (BG). The Wall Street Journal on Friday reported that ADM has made a takeover approach towards Bunge. "Back of the envelope" deal math at the midpoint of the takeout range suggests accretion to ADM of 75c per share, 28% against a 2018 earnings per share of forecast of $2.70, Driscoll tells investors in a research note. He believes, however, that there could be some antitrust issues in ADM and Bunge's oilseed processing businesses in the U.S. and Europe. Antitrust hurdles in both countries are "likely high" for a possible combination, the analyst contends. Further, he believes that if ADM is unable to hold onto Bunge's North American and European crushing assets in a deal, the transaction would be less attractive.
01/22/18
FBCO
01/22/18
NO CHANGE
Target $84
FBCO
Outperform
Credit Suisse says Archer may be trying to push Bunge to negotiating table
Credit Suisse analyst Robert Moskow said that by making its interest public via a Wall Street Journal report, Archer Daniels (ADM) might be trying to get Bunge (BG) to the negotiating table before its standstill agreement with Glencore (GLNCY) expires in February. He has heard speculation that Archer might just want to make sure Glencore pays up, but Moskow believes this approach sound like more than just "friendly fire," he tells investors. Given Archer Daniels' unleveraged balance sheet and significant overlap with Bunge, the analyst estimates $800M of headline synergies and a $90 per share price for Bunge are possible. Moskow keeps an Outperform rating and $84 price target on Bunge shares, which are up about 4% to $80.45 near midday.
01/23/18
JPMS
01/23/18
NO CHANGE
JPMS
Underweight
Glencore better fit for Bunge than ADM, says JPMorgan
JPMorgan analyst Ann Duignan believes Bunge (BG) is a "superior strategic fit" for Glencore (GLNCY) and "clearly not in-line" with the strategic vision communicated by ADM (ADM) in recent years. The analyst has an Underweight rating on ADM shares and does not rate Bunge. The Wall Street Journal reported Friday that ADM made a takeover approach to Bunge. Dunigan does not believe Bunge's core assets would be easily separable without destroying value, and therefore does not think it would be possible for both ADM and Glencore to share the company. Further, ADM does not have the fire power to outbid Glencore and its partners, the analyst told investors yesterday in a research note.
02/15/18
SPHN
02/15/18
UPGRADE
SPHN
Overweight
Bunge upgraded to Overweight from Equal Weight at Stephens
ADM Archer Daniels
$41.82

0.48 (1.16%)

02/07/18
SPHN
02/07/18
UPGRADE
Target $50
SPHN
Overweight
Archer Daniels upgraded to Overweight from Equal Weight at Stephens
Stephens analyst Farha Aslam upgraded Archer Daniels to Overweight from Equal Weight, as she sees the company being poised for an earnings recovery. Archer Daniels is cutting costs and improving operations while fundamentals in the soy crush and ethanol markets are showing early signs of a recovery, Aslam tells investors. She raised her price target on Archer Daniels shares to $50 from $42.
GLNCY Glencore
$10.86

0.405 (3.87%)

01/22/18
BARD
01/22/18
NO CHANGE
Target $75
BARD
Neutral
Bunge takeover speculation could drive shares higher short-term, says Baird
Baird analyst Ben Kallo noted the WSJ article that said Archer Daniels (ADM) had approached Bunge (BG) with a takeover offer. Kallo noted this is the second possible suitor interested in the company with Glencore (GLNCY) having been rumored previously. He said with multiple bidders now reportedly interested, the chatter could lead to a short-term rise in Bunge shares. He also thinks this could be a positive catalyst for Archer Daniels even if they are not the winning bidder as the takeover would provide a value benchmark. Kallo has a Neutral rating on Bunge with a $75 price target on the shares.
01/22/18
SPHN
01/22/18
NO CHANGE
Target $72
SPHN
Equal Weight
Bunge could be valued at $90-$95 in takeover, says Stephens
After The Wall Street Journal reported that Archer Daniels Midlands (ADM) made a takeover approach to Bunge (BG), Stephens analyst Farha Aslam noted the prior reports that Glencore (GLNCY) had sought to buy Bunge last May and has a stand still agreement in place that expires in February. She believes that Bunge could be valued at $90-$95 in a takeover scenario and notes that synergies from a combination with Archer Daniels would likely be significant. Aslam keeps an Equal Weight rating and $72 price target on Bunge shares.

TODAY'S FREE FLY STORIES

SCL

Stepan Company

$75.84

0.62 (0.82%)

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Conference/Events
Morgan Stanley semiconductors analysts to hold analyst/industry conference call »

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POL

PolyOne

$30.74

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OLN

Olin

$20.32

0.14 (0.69%)

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KRA

Kraton

$24.26

0.3 (1.25%)

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HT

Hersha Hospitality

$18.49

-0.27 (-1.44%)

20:57
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Hersha Hospitality rating change at Wells Fargo »

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CARS

Cars.com

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VERI

Veritone

$6.90

1.28 (22.78%)

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NGVT

Ingevity

$86.46

1.31 (1.54%)

20:47
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Initiation
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FUL

H.B. Fuller

$41.36

-0.36 (-0.86%)

20:38
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EMN

Eastman Chemical

$72.77

-0.36 (-0.49%)

20:29
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DSW

DSW

$23.04

-1.19 (-4.91%)

20:25
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Earnings
Notable companies reporting before tomorrow's open »

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  • 11

    Dec

CE

Celanese

$89.79

-1.445 (-1.58%)

20:24
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Initiation
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ASIX

AdvanSix

$25.33

0.18 (0.72%)

20:18
12/10/18
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GWW

Grainger

$285.60

-3.88 (-1.34%)

20:11
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  • 24

    Jan

NFLX

Netflix

$269.80

4.66 (1.76%)

20:00
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VIVHY

Vivendi

$0.00

(0.00%)

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Vivendi seeks to invest in Trump partner's Indonesia TV unit, Bloomberg says »

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GOOG

Alphabet

$1,040.02

3.5 (0.34%)

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Alphabet Class A

$1,052.80

5.81 (0.55%)

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$1,040.02

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$1,052.80

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ASNA

Ascena Retail

$2.73

-0.28 (-9.30%)

, ASPU

Aspen Group

$5.66

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CASY

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NX

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CAMP

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RARX

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SAEX

SAExploration

$3.33

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TROX

Tronox

$7.05

-0.25 (-3.42%)

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ALGT

Allegiant Travel

$124.89

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SPLK

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EFC

Ellington Financial

$15.57

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NTDOY

Nintendo

$0.00

(0.00%)

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GOOG

Alphabet

$1,040.02

3.5 (0.34%)

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Alphabet Class A

$1,052.80

5.81 (0.55%)

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$1,040.02

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  • 11

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