Archer Daniels price target raised to $63 from $57 at BMO Capital

BMO Capital analyst Andrew Strelzik raised the firm’s price target on Archer Daniels (ADM) to $63 from $57 and keeps a Market Perform rating on the shares after its Q4 results. The firm raises its price target as methodology increasingly reflects RVO – biofuel blending quota – implications, but remains on the sidelines amid concerns that the favorable fundamental outlook is not translating to EPS, the analyst tells investors in a research note.