UPDATE: Goldman Sachs Initiates Coverage on Corn Products International at Neutral

A report from Goldman Sachs states that it has initiated coverage on Corn Products International (NYSE: CPO) with a Neutral rating and $50 price target.

The report states, “Shares offer positive exposure to corn prices but with a more attractive risk profile than other corn-related equities. We see multiple factors that should continue to drive performance in the near term, including: (1) the tail end of corn inflation benefits, (2) merger synergies, (3) elevated wet mill utilization rates”.

CPO closed yesterday at $43.27.