Reported about 9 hours ago
BofA has downgraded Adecoagro (AGRO) from Neutral to Underperform with a new price target of $10.80, down from $12, after the conclusion of Tether Investments' tender offer. Tether acquired 49.6 million shares at $12.41 each, gaining a 70% stake in Adecoagro. The downgrade reflects concerns over reduced liquidity and uncertainty regarding Tether's long-term strategy as the majority shareholder.
Source: YAHOO