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Archer Daniels price target raised to $77 from $68 at Barclays

Barclays analyst Benjamin Theuer raised the firm’s price target on Archer Daniels (ADM) to $77 from $68 and keeps an Equal Weight rating on the shares. With the Environmental Protection Agency finalizing the Set 2 Rule, Barclays expects marginal supply constraints at the refiner level tightening the oilseed balance, supporting crush margins, and shifting value upstream. Biofuels are no longer demand- but feedstock-constrained, the analyst tells investors in a research note.

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