Market Overview

UPDATE: BMO Capital Markets Downgrades Archer Daniels Midland to Market Perform on Corn Concerns

Related ADM
Mondelez International Inc, Lindt Among 2014's 4 Big Cocoa Consolidations
What Is A High Risk Market?
Archer Daniels to Buy Wild Flavors for $3B (Fox Business)
Related ADM
Mondelez International Inc, Lindt Among 2014's 4 Big Cocoa Consolidations
What Is A High Risk Market?
Archer Daniels to Buy Wild Flavors for $3B (Fox Business)

BMO Capital Markets reduced its rating on Archer Daniels Midland (NYSE: ADM) from Outperform to Market Perform and reduced its price target from $36 to $32.

BMO Capital Markets commented, "We downgraded ADM to MARKET PERFORM from OUTPERFORM as increased concern regarding the health of the corn (and soybean) crop may have a ripple effect across ADM's value chain. Corn fundamentals have materially reversed over the last several weeks, as recent hot, dry weather during the key corn maturation period has created a risk to yields (December corn increased from $5 to $7)."

Archer Daniels Midland closed at $28.39 on Friday.

Latest Ratings for ADM

DateFirmActionFromTo
Aug 2014CitigroupMaintainsBuy
Jul 2014JP MorganMaintainsNeutral
Jul 2014CitigroupMaintainsBuy

View More Analyst Ratings for ADM
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Downgrades Price Target Intraday Update Analyst Ratings

 

Related Articles (ADM)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters