Archer Daniels price target lowered to $60 from $66 at BMO Capital

BMO Capital analyst Andrew Strelzik lowered the firm’s price target on Archer Daniels to $60 from $66 and keeps a Market Perform rating on the shares after its Q4 earnings miss. The company is taking the appropriate actions to navigate and mitigate a normalizing operating environment as it enhances focus on productivity initiatives and shifts to share repurchases amid share pressures from internal and cyclical dynamics, the analyst tells investors in a research note. BMO adds however that while Archer Daniels is controlling what it can as the environment normalizes, the fundamental pressures keep the firm on the sidelines.