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Fly News Breaks for November 8, 2018
ADM
Nov 8, 2018 | 08:04 EDT
Argus analyst Deborah Ciervo upgraded Archer Daniels to Buy with a price target of $53, citing the company's recent strong performance and improvement in its Oilseeds, Origination, and Nutrition divisions. The analyst also raised his FY18 EPS view by 10c to $3.59 and FY19 view by 8c to $3.66 thanks to the impact of its cost savings efforts. Ciervo has a positive view of the company's long-term strategy, which includes "global expansion through acquisitions and joint ventures, the sale of underperforming businesses, and cost-cutting initiatives".
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