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Benzinga
Benzinga
Business
Priya Nigam

BofA Downgrades Chemical Stocks Archer Daniels, Bunge

Bunge NYSE ADM BG BofA Securities Bunge Ltd Steve Byrne ArcherDanielsMidland United States

Both Archer-Daniels-Midland Co (NYSE:ADM) and Bunge Ltd (NYSE:BG) seem to be nearing peak earnings, with a likely contraction in soybean crush margins over the next couple of years, according to BofA Securities.

The Chemicals Analyst: Steve Byrne downgraded the ratings for Archer-Daniels-Midland and Bunge to Neutral, while raising the price targets from $80 to $100 and from $120 to $134, respectively.

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