BofA upgraded Archer Daniels (ADM) to Neutral from Underperform with a price target of $47, down from $48. The shares have declined by 9% since mid-January and no longer support an Underperform rating, the analyst tells investors. In addition, the firm believes Archer Daniels is relatively-better positioned compared to most of the companies the analyst covers in “the new macro landscape,” the analyst added.
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