Roth MKM Downgrades Archer-Daniels Midland to Neutral, Lowers Price Target to $66
Portfolio Pulse from Benzinga Newsdesk
Roth MKM analyst Brian Wright downgraded Archer-Daniels Midland (NYSE:ADM) from Buy to Neutral and reduced the price target from $98 to $66. This reflects a more cautious stance on the company's stock, suggesting that the analyst sees limited upside potential or increased risks that could affect the stock's performance.
January 22, 2024 | 3:31 pm
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Archer-Daniels Midland was downgraded by Roth MKM from Buy to Neutral, with a significant reduction in the price target from $98 to $66, indicating a bearish outlook on the stock's future performance.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they imply a less favorable outlook on the company's future earnings potential or market position. The substantial decrease in the price target from $98 to $66 by Roth MKM is likely to be viewed as a significant negative revision, which could lead to a decrease in investor confidence and a potential drop in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100