Archer Daniels price target raised to $70 from $60 at UBS

UBS raised the firm’s price target on Archer Daniels (ADM) to $70 from $60 and keeps a Buy rating on the shares. The firm increased estimates to reflect the strength in crush spread and improvement in ADM’s nutrition business. UBS sees the company as one of the best positioned to benefit from a potential upcycle in soy crush margins.