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UPDATE: Topeka Capital Markets Reiterates Hold Rating, Lowers PT on Archer Daniels Midland Company

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In a report published Wednesday, Topeka Capital Markets reiterated its Hold rating on Archer Daniels Midland Company (NYSE: ADM), but lowered its price target from $31.00 to $23.00.

Topeka Capital noted, “ADM's F4Q12 earnings announcement highlighted the challenges facing downstream processors and handlers in the current environment. The Company was impacted by lower volumes and margins in Agribusiness as well as negative margins in their ethanol business. The concern is that although the 2012 harvest may bring higher revenues based on crop prices, margins may remain depressed as increases in inputs can't be passed on. We are maintaining our Hold rating and lowering our price target from $31 to $23. We believe that at those levels the stock becomes compelling on a valuation and yield basis.”

Archer Daniels Midland Company closed on Tuesday at $26.09.

Latest Ratings for ADM

DateFirmActionFromTo
Jan 2015JP MorganDowngradesNeutralUnderweight
Jan 2015Goldman SachsDowngradesBuyNeutral
Jan 2015BMO CapitalDowngradesOutperformMarket Perform

View More Analyst Ratings for ADM
View the Latest Analyst Ratings

Posted-In: Topeka Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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