From Notable Calls:
Citigroup is out downgrading Archer-Daniels-Midland Company (NYSE:ADM) to Sell from Hold following their our visit with ADM management in Decatur, Illinois, which confirmed their belief that fundamental trends are deteriorating across ADM's major businesses, namely Oilseed Processing and Agricultural Services. Citigroup is maintaining their below consensus EPS estimates and $25 price target which, at current prices, implies -13% in expected downside....
...Notablecalls: The call caught my attention for several reasons:
- ADM has always been an analyst darling. There aren't that many firms out there with Sell ratings.
- The stock has held up really well over the past year and is actually up around 15% YTD.
- Citi highlights rapid deterioration in several areas....MORE