Archer Daniels price target raised to $77 from $65 at Jefferies

Jefferies raised the firm’s price target on Archer Daniels (ADM) to $77 from $65 and keeps a Hold rating on the shares. The firm sees Q1 as the low watermark, with Q1 EPS of 70c and EBITDA of $859M in line with consensus. Higher crush and biofuel policy deferral margins should lift Agriculture Services and Oilseeds from Q2, while E15/45Z support Carbohydrate Nutrition seeing growth, but the magnitude is uncertain, the analyst tells investors in a research note.