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Fly News Breaks for March 12, 2018
ADM
Mar 12, 2018 | 05:11 EDT
Goldman Sachs analyst Adam Samuelson upgraded Archer Daniels Midland to Buy and raised his price target for the shares to $50 from $39. The analyst expects a "substantial tightening" of global soybean crush markets following a severe drought in Argentina. This should drive the first meaningful upward estimate revision cycle for ADM in three-plus years, Samuelson tells investors in a research note. He raised his 2018 earnings per share estimate to $3.16 from $2.74 and 2019 estimate to $3.54 from $2.99.
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