Andersons initiated with a Buy at Roth MKM

Roth MKM analyst Brian Wright initiated coverage of Andersons with a Buy rating and $55 price target. The stock offers a highly attractive valuation based upon its expected mid-cycle earnings profile, and shares should benefit from its greater relative exposure to an expected acceleration in biofuel production over the coming decades, the analyst tells investors in a research note. Andersons’ relative size also offers more leverage from available property acquisitions, the firm added.