Adecoagro downgraded to Underperform at BofA after Tether tender concluded
From Yahoo Finance: 2025-04-26 11:40:00
BofA downgraded Adecoagro (AGRO) to Underperform from Neutral with a price target of $10.80, down from $12, after Tether Investments acquired 49.6M shares for $12.41 each, reaching a 70% stake. The firm cited risk of lower liquidity with a float of 30% and uncertainty about Tether’s long-term strategy as controlling shareholder.
Source: TheFly
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