UBS analyst Manav Gupta downgraded Archer Daniels to Neutral from Buy with a price target of $51, down from $104. The analyst sees downside to Street earnings estimates driven by no growth in Nutrition segment, soy crush driving a year-over-year decline in crush earnings, weaker RPO earnings due to refined soybean oil premium shrinking and weaker carbohydrate solutions earnings driven by weakness in ethanol margins. In addition, accounting issues create an an overhang the shares, the analyst tells investors in a research note.
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