Goldman Sachs Starts Archer Daniels Midland (ADM) at Neutral

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Goldman Sachs initiates coverage on Archer Daniels Midland (NYSE: ADM) with a Neutral. PT $30.00.

The firm said the current "bounty" stage of the ag cycle makes for a tough operating backdrop. Returns, which could remain depressed, could keep a lid on ADM's multiple and a bottom-up analysis points to sharp EPS declines in FY12.

For more ratings news on Archer Daniels Midland click here and for the rating history of Archer Daniels Midland click here.

Shares of Archer Daniels Midland closed at $25.41 yesterday, with a 52 week range of $25.10-$38.02.

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