JPMorgan downgraded Archer Daniels (ADM) to Underweight from Neutral with a price target of $59, down from $61. The company’s Q3 earnings beat estimates but guidance cut indicates its profit headwinds extend beyond a lack of clarity on U.S. biofuel policies and trade relations with China, the analyst tells investors in a research note. JPMorgan believes Archer’s Carbohydrate Solutions is seeing headwinds from weaker demand for packaged food broadly and especially food with sugar additives.
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Read More on ADM:
- Archer Daniels downgraded to Underweight from Neutral at JPMorgan
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