Market Overview

Goldman Sachs Maintains Neutral, $30 PT on Archer Daniels

Share:

Goldman Sachs reiterates its Neutral rating and $30 price target on Archer Daniels Midland (NYSE: ADM) as corn-processing improvement offsets soybean pressures for now.

Goldman says, “Despite a large US soybean processing business, we see more balanced risk to ADM numbers as strength in corn refining should offset soybean pressures, at least short-term. We expect fundamentals to turn more challenging by mid-2012 as corn returns revert lower. Overall, we expect the current operating environment to depress returns and limit multiple expansion from low levels.”

ADM closed at $28.34 per share on Monday.

Posted-In: Goldman SachsAnalyst Color Reiteration Analyst Ratings

 

Related Articles (ADM)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→