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BG

Bunge

$75.47

-0.12 (-0.16%)

, MON

Monsanto

$117.97

0.11 (0.09%)

13:59
04/09/18
04/09
13:59
04/09/18
13:59

Bunge rises after DOJ reported to approve Monsanto-Bayer deal

The Fly notes that Bunge (BG) has been considered a takeout target, with interest reported from Archer Daniels (ADM) and Glencore (GLNCY). Following the Wall Street Journal report that Department of Justice has decided to allow Bayer's (BAYRY) acquisition of Monsanto (MON) after the companies pledged to sell off additional assets, Bunge shares are off their earlier lows and have turned positive.

BG

Bunge

$75.47

-0.12 (-0.16%)

MON

Monsanto

$117.97

0.11 (0.09%)

BAYRY

Bayer

$28.65

-0.12 (-0.42%)

ADM

Archer Daniels

$44.74

0.405 (0.91%)

GLNCY

Glencore

$9.85

-0.17 (-1.70%)

  • 14

    Apr

  • 08

    May

  • 18

    May

  • 30

    May

BG Bunge
$75.47

-0.12 (-0.16%)

03/07/18
JPMS
03/07/18
UPGRADE
Target $90
JPMS
Overweight
Bunge reinstated with an Overweight from Neutral at JPMorgan
JPMorgan analyst Ann Duignan upgraded Bunge to Overweight with a $90 price target following a period of restriction. The analyst previously had a Neutral rating on the shares with a $77 price target. Duignan view the likelihood of a Bunge takeover as probable given the "structural headwinds facing the industry." A strategic buyer would likely be willing to pay a premium multiple, the analyst tells investors in a research note. She is not suggesting that $90 per share would be the eventual price paid for Bunge.
03/06/18
SBSH
03/06/18
UPGRADE
Target $49
SBSH
Buy
Citi upgrades Archer Daniels, Bunge on 'dramatic turn' in soy market
Conditions in the global soy crushing market have taken a "dramatic turn" for the better over the past two months, Citi analyst David Driscoll tells investors in a research note. He points out that drought has struck in Argentina, shrinking the size of the new crop which begins harvest in April. Global crush margins should expand in 2018, as Argentina has less meal to export, the analyst contends. To reflect an improving soy story, Driscoll upgraded both Archer Daniels Midland (ADM) and Bunge (BG) to Buy from Neutral. Further, the analyst still sees Bunge as a potential takeout candidate, with a potential deal range from $85 to $100 per share. Driscoll raised his price target for ADM shares to $49 from $45 and for Bunge shares to $89 from $75.
03/06/18
SBSH
03/06/18
UPGRADE
SBSH
Buy
Bunge upgraded to Buy from Neutral at Citi
Citi analyst David Driscoll upgraded both Archer Daniels Midland (ADM) and Bunge (BG) to Buy saying the drought in Argentina is bringing relief to the global soy crush markets. The analyst sees an improving soy story for both companies.
02/15/18
02/15/18
UPGRADE
Target $90

Overweight
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.
MON Monsanto
$117.97

0.11 (0.09%)

07/12/17
07/12/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Monsanto (MON) downgraded to Hold from Buy at Jefferies with analyst Laurence Alexander saying Bayer's (BAYRY) all-cash offer appears on track for year-end. The analyst views the deal failing as a "low-probability scenario" and keeps a $128 price target for the shares. 2. Freeport McMoRan (FCX) downgraded to Sell from Hold at Berenberg. 3. Kimberly-Clark (KMB) downgraded to Sell from Neutral at UBS with analyst Stephen Powers saying the stock's 11% rise year-to-date is not based on fundamentals but news flow of consolidation in the Household Products sector. 4. Harley-Davidson (HOG) downgraded to Market Perform from Outperform at Bernstein with analyst David Beckel citing his belief that "demographic shifts and a stagnating economy" will prevent demand for the company's motorcycles from growing in the U.S. for the next five years. 5. IMAX (IMAX) downgraded to Market Perform from Outperform at Barrington with analyst James Goss saying positive catalysts "might take some time to develop." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/18/17
UBSW
08/18/17
DOWNGRADE
Target $128
UBSW
Neutral
Monsanto downgraded to Neutral from Buy at UBS
UBS analyst John Roberts downgraded Monsanto (MON) to Neutral saying the shares are now less than 10% away from the accepted Bayer (BAYRY) offer of $128. The analyst calculates that the market is currently pricing in a 70% chance of the deal going through. His view that the deal could be approved remains unchanged. Approvals of peer deals suggest antitrust approval likely for Monsanto, Roberts tells investors in a research note. The analyst keeps a $128 price target for Monsanto shares.
09/05/17
BERN
09/05/17
NO CHANGE
BERN
Bernstein still sees 'very high' probability of Bayer, Monsanto deal approval
Bernstein analyst Jeremy Redenius notes that the European Commission has opened an in-depth review of the Bayer (BAYRY)/Monsanto (MON) deal due to concerns of reduced competition in pesticides, seeds, and traits. The analyst believes this is not surprising, as the in-depth review is the norm for deals of this size. Comparing the EC's initial concerns with those of the Dow/DuPont (DWDP) deal, he still sees a "very high" probability of deal approval.
10/04/17
MACQ
10/04/17
DOWNGRADE
MACQ
Neutral
Monsanto downgraded to Neutral from Outperform at Macquarie
BAYRY Bayer
$28.65

-0.12 (-0.42%)

12/29/17
JPMS
12/29/17
NO CHANGE
JPMS
Roche added to Analyst Focus List at JPMorgan
JPMorgan analyst Richard Vosser added Roche (RHHBY) to his firm's Analyst Focus List and keeps an Overweight rating on the shares with a SFR 300 price target. The analyst sees Roche as having the most significant earnings upside potential of any of the European large cap pharma stocks in 2018. He believes the potential of the company's pipeline is being underappreciated at current share levels. His top picks for 2018 are Roche and Bayer (BAYRY).
12/28/17
ARGS
12/28/17
NO CHANGE
Target $470
ARGS
Buy
Regeneron price target lowered to $470 from $540 at Argus
Argus analyst Jasper Hellweg lowered his price target on Regeneron (REGN) to $470 to reflect some of the recent weakness in the stock, but keeps his Buy rating. Hellweg says that while the company's growth has slowed in recent years, it continues to benefit from sales of Eylea, collaboration agreements with Sanofi (SNY) and Bayer (BAYRY) as well as a strong new product pipeline.
11/16/17
JEFF
11/16/17
NO CHANGE
JEFF
Buy
Jefferies names Roche new top global pick in Pharmaceuticals
Jefferies analyst Jeffrey Holford names Roche (RHHBY) his new "Top Pick Globally" in Pharmaceuticals following the strong share performance of his previous top pick for 2017, AbbVie (ABBV). The analyst believes the company's growth outlook is better than many investors think. Roche is nearing sentiment lows and investors "need to look hard at the replacement power" offered by assets Tecentriq, Ocrevus, Gazyva, ACE910 and Perjeta, Holford tells investors in a research note. Following Roche, the analyst has the highest conviction on Novartis (NVS), Bayer (BAYRY), AbbVie, Johnson & Johnson (JNJ), Zoetis (ZTS) and Eli Lilly (LLY). His least preferred stocks in Pharmaceuticals are Merck (MRK), Novo Nordisk (NVO) and AstraZeneca (AZN).
11/15/17
MSCO
11/15/17
NO CHANGE
Target $103
MSCO
Overweight
Loxo Oncology partnership with Bayer better than recognized, says Morgan Stanley
Morgan Stanley analyst Matthew Harrison thinks Loxo Oncology's (LOXO) partnership with Bayer (BAYRY) is a smart move and points to two key aspects of the deal that are being underappreciated. Namely, the deal offsets the risk of a slow TRK launch while he also believes strategic optionality is still intact as Loxo maintains two fully owned program, Harrison tells investors. Harrison maintains an Overweight rating on Loxo with a $103 price target. The stock slid about 4% yesterday to close at $79.84 after the Bayer deal was announced.
ADM Archer Daniels
$44.74

0.405 (0.91%)

03/06/18
SBSH
03/06/18
UPGRADE
SBSH
Buy
Archer Daniels upgraded to Buy from Neutral at Citi
Citi analyst David Driscoll upgraded both Archer Daniels Midland (ADM) and Bunge (BG) to Buy saying the drought in Argentina is bringing relief to the global soy crush markets. The analyst sees an improving soy story for both companies.
03/12/18
GSCO
03/12/18
UPGRADE
Target $50
GSCO
Buy
Archer Daniels upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Adam Samuelson upgraded Archer Daniels Midland to Buy and raised his price target for the shares to $50 from $39. The analyst expects a "substantial tightening" of global soybean crush markets following a severe drought in Argentina. This should drive the first meaningful upward estimate revision cycle for ADM in three-plus years, Samuelson tells investors in a research note. He raised his 2018 earnings per share estimate to $3.16 from $2.74 and 2019 estimate to $3.54 from $2.99.
04/09/18
BUCK
04/09/18
NO CHANGE
Target $53
BUCK
Buy
Archer Daniels price target raised to $53 from $47 at Buckingham
Buckingham analyst Eric Larson reiterated his Buy rating on Archer Daniels and raised his price target to $53 from $47 saying improved fundamentals support a favorable risk/reward. Larson said WILD is projected to see solid results and a strengthening export outlook could be a "swing factor" for ag services/ethanol.
GLNCY Glencore
$9.85

-0.17 (-1.70%)

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.
04/04/18
RBCM
04/04/18
UPGRADE
RBCM
Top Pick
Glencore upgraded to Top Pick from Outperform at RBC Capital
04/04/18
RBCM
04/04/18
UPGRADE
RBCM
Top Pick
Glencore upgraded to Top Pick at RBC Capital
As reported earlier, RBC Capital analyst Tyler Broda upgraded Glencore to Top Pick from Outperform, saying the company's solidified balance sheet and exposure to copper and cobalt should produce a period of outperformance. Broda adds that the underlying valuation on Glencore has retreated further than warranted. The analyst lowers his price target on Glencore to GBp460 from GBp470 however, rolling forward his valuation model to include FY18 EBITDA while also noting the potential sector impact from trade tariffs and "resource nationalism".

TODAY'S FREE FLY STORIES

SBNY

Signature Bank

$135.08

-1.99 (-1.45%)

05:52
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SCCO

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FOXA

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$101.21

-1 (-0.98%)

CMCSA

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$33.28

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NTRS

Northern Trust

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NVS

Novartis

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-0.09 (-0.11%)

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$175.14

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AMZN

Amazon.com

$1,527.24

23.92 (1.59%)

05:36
04/19/18
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NVS

Novartis

$81.72

-0.09 (-0.11%)

05:34
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NVS

Novartis

$81.72

-0.09 (-0.11%)

05:34
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RDN

Radian Group

$15.36

-0.91 (-5.59%)

05:30
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NVS

Novartis

$81.72

-0.09 (-0.11%)

05:29
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MTG

MGIC Investment

$10.50

-0.275 (-2.55%)

05:29
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ESNT

Essent Group

$34.83

-2.045 (-5.55%)

, MTG

MGIC Investment

$10.50

-0.275 (-2.55%)

05:28
04/19/18
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Downgrade
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Essent Group downgraded…

ESNT

Essent Group

$34.83

-2.045 (-5.55%)

MTG

MGIC Investment

$10.50

-0.275 (-2.55%)

RDN

Radian Group

$15.36

-0.91 (-5.59%)

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NVS

Novartis

$81.72

-0.09 (-0.11%)

05:27
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NVS

Novartis

$81.72

-0.09 (-0.11%)

05:25
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PG

Procter & Gamble

$78.19

-0.23 (-0.29%)

, TEVA

Teva

$17.91

0.065 (0.36%)

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PG

Procter & Gamble

$78.19

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TEVA

Teva

$17.91

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GOL

GOL Linhas

$13.51

0.72 (5.63%)

05:22
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PG

Procter & Gamble

$78.19

-0.23 (-0.29%)

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LN

Line Corp.

$38.30

0.09 (0.24%)

05:20
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AAPL

Apple

$177.84

-0.41 (-0.23%)

05:16
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  • 01

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SNBR

Sleep Number

$36.58

-0.35 (-0.95%)

05:13
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NOV

National Oilwell

$38.32

0.73 (1.94%)

05:12
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PTEN

Patterson-UTI

$20.61

0.41 (2.03%)

05:12
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05:12
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ACET

Aceto

$7.40

0.04 (0.54%)

05:12
04/19/18
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05:12
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HSBC

HSBC

$48.58

-0.275 (-0.56%)

05:11
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05:11
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05:11
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LBTYA

Liberty Global

$32.08

0.54 (1.71%)

05:10
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