Barclays Double Downgrades Archer Daniels Midland (ADM) to Underweight, 'A softer crush is crushing our estimates'

January 22, 2024 8:34 AM EST
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Price: $61.62 +0.05%

Rating Summary:
    12 Buy, 17 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 13 | New: 8
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(Updated - January 22, 2024 8:59 AM EST)

Barclays analyst Benjamin Theuer downgraded Archer Daniels Midland (NYSE: ADM) from Overweight to Underweight with a price target of $60.00 (from $95.00).

The analyst comments "We downgrade ADM to UW from OW and lower our PT to $60 (was $95), driven by weaker crush margins, a tougher ethanol comp, and lingering challenges in Nutrition. Additionally, on Sunday (1/21) ADM announced an unexpected CFO change, while also announcing a delay in its 10K and 4Q results filing."

For an analyst ratings summary and ratings history on Archer Daniels Midland click here. For more ratings news on Archer Daniels Midland click here.

Shares of Archer Daniels Midland closed at $68.19 yesterday.

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