Archer Daniels price target raised to $59 from $44 at Jefferies

Jefferies raised the firm’s price target on Archer Daniels (ADM) to $59 from $44 and keeps a Hold rating on the shares. The firm, which foresees upside driven by early signs of stabilization in Nutrition and a more constructive backdrop in Ag Services, partially offset by expected weaker crush margins in North America, forecasts Q2 EBITDA of $916M, which would beat consensus of $864M by 6%. The firm cites improved execution and policy visibility for its increased target ahead of Q2 results.