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Benzinga

Shivani Kumaresan

Barclays Bumps Up Price Target On This Food Processing Company

Barclays analyst Benjamin Theuer raised the price target on Archer-Daniels-Midland Co (NYSE:ADM) to $95 from $88 and kept an Overweight rating on the shares ahead of the company's Q1 results.
The analyst noted the company has been benefitting from the current market volatility and gained further momentum.
Theuer estimates the company's net revenue to reach $22.5 billion in Q1, growing 19% year-over-year.
Also Read: Archer-Daniels-Midland Plans To Invest $300M To Expand Protein Production
Price Action: ADM shares are trading lower by 1.72% at $94.40 on the last check Friday.

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