Archer Daniels Midland (ADM) PT Raised to $54 at Baird

Baird raised its price target on Archer Daniels Midland (NYSE: ADM) to $54.00 (from $52.00) while maintaining an Outperform rating.

Analyst Ben Kallo commented, "ADM beat our/consensus estimates due to a strong quarter in its Origination and Oilseeds segments, which benefitted from favorable macro conditions and historical investments/cost reduction efforts. Management commentary was positive on ADM’s ability to achieve growth in 2019, but we expect earnings power will remain an area of focus for investors. We think the stock can move higher overtime and remain buyers, but think near-term share appreciation will require additional clarity/confidence on earnings growth potential in 2019."

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