Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 31 Mar, 26 | BG | Buy | USD 128.38 | USD 135.0 | USD 145.0 | 79 days | Closed |
12.76%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Soybean Processing and Refining, Softseed Processing and Refining, Other Oilseeds Processing and Refining, and Grain Merchandising and Milling. The Soybean Processing and Refining segment is involved in the purchase, storage, transportation, processing, distribution, refining, marketing, and sale of soybeans and soybean related products, as well as biodiesel and fertilizer production and distribution for the food, animal feed and biofuel industries. The Softseed Processing and Refining segment is involved in the purchase, storage, transportation, processing, distribution, refining, marketing, and sale of softseeds and softseed related products, as well as biodiesel production and distribution. The Other Oilseeds Processing and Refining Segment is involved in products of a specialty nature, including the purchase, storage, transportation, processing, distribution, refining, marketing, and sale of these related products. The Grain Merchandising and Milling segment is involved in the purchase, storage, transportation, distribution, and marketing of commodities primarily consisting of corn, wheat, barley, cotton, pulses, and sugar; milling of wheat and sugar; and related services including ocean freight and financial services. Bunge Global SA was founded in 1818 and is headquartered in Chesterfield, Missouri.
Strong Growth in Grain Merchandising Volumes: Grain merchandising volumes rose to FY25 67,166 thousand metric tons from FY24 36,660 thousand metric tons, indicating enhanced scale and trading capabilities
Expansion in Adjusted Segment EBIT: Adjusted segment EBIT increased to FY25 USD 2,459 million compared to FY24 USD 2,335 million, reflecting improved operational execution across segments
Lower Operating Cash Flow: Cash flow from operations declined to FY25 USD 844 million from FY24 USD 1,900 million, primarily due to working capital changes and lower earnings
Decline in Adjusted EPS: Adjusted EPS declined to FY25 USD 7.57 compared to FY24 USD 9.19, reflecting normalization of trading margins
Bunge’s key investment risk lies in its sensitivity to global commodity price cycles and policy-driven demand, where fluctuations in agricultural margins, biofuel regulations, and integration execution of large acquisitions like Viterra could materially impact earnings stability and returns
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 128.38 | 112.0 | 135.0 | 145.0 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Strategic Transformation and Operating Integration: During FY25, Bunge Global SA demonstrated a transformative year marked by the successful integration of Viterra, significantly enhancing its global footprint and operational capabilities. The combination strengthened its end-to-end value chain, improving connectivity across origination, processing, and distribution. The company began realizing both cost and commercial synergies, positioning itself as a more diversified and resilient agribusiness platform capable of navigating volatile commodity markets.
Earnings Performance Amid Normalizing Market Conditions: The company reported a moderation in earnings compared to FY24, reflecting a shift toward a more balanced supply-demand environment and reduced volatility in agricultural markets. Adjusted earnings per share declined to USD 7.57 in FY25 from USD 9.19 in FY24, while reported EPS decreased to USD 4.93 from USD 7.99. This decline was primarily influenced by lower margin opportunities and normalization of trading conditions following prior-year disruptions.
Segmental Profitability and Operational Execution: Despite the earnings decline, Bunge delivered resilient operating performance, with adjusted segment EBIT increasing to USD 2,459 million in FY25 from USD 2,335 million in FY24. Growth was supported by improved execution across all core segments, particularly soybean and softseed processing, as well as grain merchandising. The expansion of processing capacity and origination networks contributed to higher volumes and stronger operational throughput.
Volume Growth Driven by Expanded Capacity: Operationally, the company recorded strong volume growth across key segments. Soybean crush volumes increased to 41,013 thousand metric tons in FY25 from 36,824 thousand metric tons in FY24, while grain merchandising volumes rose significantly to 67,166 thousand metric tons from 36,660 thousand metric tons. This growth was largely attributable to expanded infrastructure and enhanced global sourcing capabilities following the Viterra combination.
Cash Flow Generation and Capital Allocation: Bunge generated adjusted funds from operations of approximately USD 1,733 million in FY25, reflecting stable underlying cash generation despite lower reported earnings. The company maintained a disciplined capital allocation strategy, deploying capital toward sustaining and growth capex, shareholder dividends, and share buybacks, while retaining USD 173 million in cash flow. This balanced approach underscores management’s focus on long-term value creation.
Balance Sheet Strength and Liquidity Position: The company maintained a strong financial position, with net debt excluding readily marketable inventories at approximately USD 0.7 billion and an adjusted leverage ratio of 1.9x at year-end. Additionally, Bunge retained robust liquidity through committed credit facilities of approximately USD 9.7 billion, providing flexibility to support operations and future investments.
Returns Profile and Efficiency Trends: Return metrics reflected moderation in profitability, with adjusted return on invested capital declining to 8.1% in FY25 from double-digit levels in prior years. This trend aligns with softer trading conditions and reduced arbitrage opportunities. However, returns remained above the company’s cost of capital, indicating continued value generation despite cyclical normalization in the agribusiness environment.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given to Bunge Limited (NYSE: BG) at the current market price of USD 128.38, as on March 31,2026 at 6:55 am PDT.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Consumer Defensive Industry: Farm Products
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| BG Bunge Global SA |
-3.56 3.07% | 112.58 | 25.52 | 14.53 | 0.35 | 1.53 | 0.54 | 15.43 |
| ADM Archer-Daniels-Midland Company |
-1.4 1.83% | 75.10 | 30.63 | 15.22 | 0.42 | 1.48 | 0.53 | 13.90 |
| TSN Tyson Foods Inc |
-0.74 1.32% | 55.46 | - | 24.94 | 0.34 | 1.00 | 0.51 | 26.68 |
| MNHVF Mowi ASA |
- -% | 20.41 | 19.37 | 9.03 | 1.64 | 2.33 | 2.08 | 8.19 |
| MHGVY Mowi ASA ADR |
- -% | 19.86 | 19.34 | 8.94 | 1.64 | 2.30 | 2.08 | 8.19 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on March 31, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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