Analysts from Citigroup (NYSE:C) say there are convinced Bunge Limited (NYSE:BG) will be able to meet its guidance for earnings per share in 2010.
Bunge's EPS estimate was a range of $3.25 to $3.50 for the year, and for 2011, Citigroup sees them performing above consensus of $5.32, estimating EPS at $5.70.
Two major reasons were given by Citi analyst David Driscoll for the conviction. He said it was "based upon the potential for $120 million ($0.60/sh) in cost savings next year along with improving global demand for oilseeds and the opportunities presented to Bunge arising from tight global wheat supplies."
The price target was upped on Bunge from $60 to $68 a share.
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