Jefferies Trims Price Target, Estimates On Archer Daniels Midland (ADM)

Jefferies lowered estimates and its price target on Archer Daniels Midland (NYSE: ADM) ahead of Q4 results.

The price target goes from $44 to $40. EPS for the current qtr goes from $0.94 to $0.78, FY11 goes from $3.39 to $3.23 and FY12 goes from $3.55 to $3.51.

The firm commented, "The expectations bar is relatively low given the underwhelming performance of industry ethanol and soybean crush margins in the quarter. With key margins bouncing off of trough levels and shares trading at 1.2x P/BV -- a large discount to the five-year mean of 1.7x -- we continue to view the shares as a compelling large cap value play."

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 $32.12 yesterday.

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