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UPDATE: Citigroup Resumes Coverage on Archer-Daniels-Midland Company as Shares are Fairly Valued at Current Prices

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In a report published Monday, Citigroup analyst David Driscoll resumed coverage on Archer-Daniels-Midland Company (NYSE: ADM) with a Neutral rating and $45.00 price target, up from $35.00.

In the report, Citigroup noted, “On Thanksgiving day (11/28/13), the Australian government sure didn't give thanks to Archer Daniels (ADM), and rejected ADM' A$3.4 billion acquisition offer for GrainCorp, citing that it wasn't in the best interest of Australia to allow the deal to proceed. Post this event, we are resuming our coverage of ADM. We rate the shares of Archer Daniels Midland Neutral, as we believe that ADM shares are fairly valued at current prices.”

Archer-Daniels-Midland Company closed on Friday at $40.25.

Latest Ratings for ADM

DateFirmActionFromTo
Jul 2019MaintainsBuy
Jun 2019MaintainsBuy
Apr 2019MaintainsBuyBuy

View More Analyst Ratings for ADM
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Posted-In: Citigroup David DriscollAnalyst Color Initiation Analyst Ratings

 

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