Referenced Stocks

Analyst Actions: Archer Daniels Midland Estimates Tweaked at Credit Suisse; Shares Down 2%

By Midnight Trader,  October 31, 2012, 12:20:43 PM EDT

Credit Suisse made a "modest reduction" to their FY 13 EPS estimate on Archer Daniels Midland Inc. ( ADM ) by lowering FY 13 by $0.04 to $2.32 to "take into account the suspension of share repurchase activities." The analysts group's FY 14 estimate of $3.20 is unchanged.

Shares of ADM are down 1.66% to $26.60 in midday trading.

In its report, Credit Suisse cited ethanol as the weak link in ADM's portfolio, operating at a loss of $26 million compared to a $153 million profit last year. "Corn sweeteners had a good quarter and expects to wield a high degree of pricing power in 2013 to pass through higher corn prices thanks to high industry capacity utilization."

ADM is trading in a 52-week range of $25.02 - $33.98.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: ADM



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