Bunge Limited (BG - Free Report) was a big mover last session, as its shares rose almost 17% on the day. The upside came after The Wall Street Journal reported that Glencore PLC approached the company about a takeover. This led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range $67.04 to $79.03 in the past one-month time frame.
Over the last 30 days, the company witnessed three negative estimate revisions while the Zacks Consensus Estimate also moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher can last.
Bunge currently carries a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the Agriculture – Products space is Cosan Limited (CZZ - Free Report) , carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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