UPDATE: Feltl and Company Reduces PT to $42.50 on The Andersons on Tight Grain Supply
Feltl and Company reiterated its Buy rating on The Andersons (NASDAQ: ANDE) but reduced its price target from $52.82 to $42.50.
Feltl and Company commented, "We are maintaining our BUY rating on The Andersons but note that a likely difficult 3Q:12 will probably hold this stock from moving higher the next few months. Long-run we view ANDE as a strong agribusiness participant mostly exposed to grain trade, ethanol, fertilizers, and railcar leasing. Presently two of these businesses are posting cyclically weak results. When grain supplies improve this stock should work better. The earliest visibility for this is likely next spring's planting conditions and early summer planting progress."
The Andersons closed at $37.43 on Friday.
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