Citi Upgrades Archer-Daniels-Midland to Buy, Sets $45 PT
Wednesday in a research note Citi upgraded Archer-Daniels-Midland (NYSE: ADM) to Buy; a price target on $45 was set on the stock.
The firm's David Driscoll said the upgrade was based on expectations for a strong 2014 outlook. The analyst also highlighted "dramatic improvements in
- Archer's oil seeds
- Agricultural services
- Ethanol operations
."Driscoll sees 2014 as a big recovery year in Archer's major operations.
Shares of ADM are trading up around 0.24 percent at $38.47.
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