Bunge Stock Rises After Morgan Stanley Analyst Says Investors Underestimate Profit Potential
NEW YORK (AP) -- Bunge Ltd. stock rose Monday after a Morgan Stanley analyst upgraded it to "Overweight," saying investors have underestimated the company's potential in the growing worldwide agricultural market.
The agricultural company's shares rose $4.53, or 4 percent, to $117.42 in afternoon trading.
Analyst Vincent Andrews said he expects a "dramatic upswing" in Bunge's fertilizer profits and a "a sustainable step-change" in its agribusiness segment this year. Agribusiness relates to buying, storing, transporting, processing and selling grains and oilseeds.
Investors should be "aggressive buyers" on any stock-price weakness related to Bunge's outlook, to be released on Feb. 7. He expects that management's outlook issued during the third-quarter conference call was "somewhat conservative" and will be better this time around
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