Jefferies Expects EPS Upside From Bunge (BG)

Jefferies optimistic about Bunge BG beating Street EPS estimates. Jefferies summarizes the EPS upside to “be driven by: 1) the return of consolidated system volume growth, 2) strong global ag trade, which should benefit spreads and 3) our view that BG was favorably positioned with key commodities heading into the December quarter.” Jefferies is also expecting “4Q10 EPS of $1.75, above the $1.61 Street estimate and a big jump from the 4Q09 EPS loss of $0.55.” Jefferies maintains its Buy rating and Price Target of $78.00. Bunge is currently trading higher $0.15 from Monday's close of $69.70.