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Citigroup Inc. Lowers Target Price & '10-'12 EPS Estimates for Bunge Ltd. (C,BG)

Written on Fri, 07/30/2010 - 2:18pm
By Chip Brian

Citigroup Inc. (NYSE:C) lowered its target price by $6 on shares of Bunge Ltd. (NYSE:BG) Friday, to $60.
Citigroup also lowered its 2010, 2011 and 2012 EPS estimates to $3.25, $5.70 and $6.20, respectively.
The previous EPS estimates were $3.25 for 2010, $5.95 for 2011 and $6.40 for 2012.
"Our price target is trimmed by -$6 to $60 in conjunction with our reduced EPS forecast," wrote Citigroup's David Driscoll. "We see value in Bunge shares at current prices but do not see any near term catalysts and maintain our Hold rating."
SmarTrend currently has Bunge in a Downtrend.
Since 2008, SmarTrend subscribers trading Bunge using our alerts outperformed the stock by 184%.
Bunge is currently below its 50-day moving average (MA) of $51.33 and below its 200-day MA of $58.67.
In the last five trading sessions, the 50-day MA has climbed 0.3% while the 200-day MA has slid 0.42%.
Shares of the global agribusiness and food company are trading up 6.31% Friday afternoon at $49.21.


Company Information For: C

Contact Chip Brian
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