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Fly News Breaks for February 8, 2019
Feb 8, 2019 | 05:50 EDT
Stifel analyst Vincent Anderson upgraded Archer Daniels Midland to Buy while lowering his price target for the shares to $52 from $55. The stock at current levels largely price in the company's tough comps in soybean crush margins while undervaluing its potential earnings growth from "controllables" as the company shifts its focus to digesting recent acquisitions, Anderson tells investors in a research note. Further, Archer Daniels shares currently trade at the low end of their historical forward price-to-earnings range and trailing 52 week share price range, adds the analyst. He sees upside potential of around 23%.
News For ADM From the Last 2 Days
Mar 22, 2019 | 07:49 EDT
Archer Daniels Midland Company Board of Directors has nominated Dr. Lei Zhang Schlitz to stand for election to the board at the company's upcoming Annual Stockholders' Meeting on May 1, 2019. Schlitz has held a series of senior-level positions for Illinois Tool Works. Currently, she serves as executive vice president of ITW's Food Equipment segment. Daniel Shih, who has served as an ADM director since 2012, has informed the board that he will not seek re-election at the annual stockholders' meeting. The company also announced the creation of a new Board committee on Sustainability and Corporate Responsibility. The committee, which will be formally launched at the upcoming May 2019 Board meeting and chaired by Board member Suzan Harrison, will set strategic objectives, goals and strategies for the company's sustainability and corporate citizenship efforts.