Archer Daniels price target lowered to $63 from $64 at Citi

Citi analyst Thomas Palmer lowered the firm’s price target on Archer Daniels to $63 from $64 and keeps a Neutral rating on the shares ahead of the Q2 report. The firm models earnings in line with the consensus, with potential upside in Other and Carbohydrate Solutions offset by downside risk in Nutrition. The analyst thinks an annual guidance reiteration is more likely than an adjustment, with the recent upward move in crush margins, offsetting downside risk to the Nutrition outlook.