Archer Daniels price target lowered to $49 from $51 at BMO Capital

BMO Capital lowered the firm’s price target on Archer Daniels (ADM) to $49 from $51 and keeps a Market Perform rating on the shares. The company’s Q4 results were largely in line with consensus as softer profits across Crushing, Sweeteners/Starches, Nutrition, and Other offset better Ag Services, Refined Oils, and ethanol profits, the analyst tells investors in a research note. ADM is taking steps to navigate a normalizing earnings environment, but there is risk to the outlook from underlying fundamental headwinds and multiple compression, the firm added.