Archer Daniels price target lowered to $75 from $80 at Stephens

Stephens lowered the firm’s price target on Archer Daniels to $75 from $80 and keeps an Equal Weight rating on the shares after the company reported Q3 results. The company now expects adjusted EPS in excess of $7 for 2023 and thinks fundamentals will remain strong into 2024, but with the cycle being debated and the market waiting for more pronounced evidence of a recovery in the Nutrition segment, the firm thinks shares are fairly valued, the analyst tells investors.