Archer-Daniels-Midland

ADM · NYSE

$80.46−$0.05 (−0.06%)TodayMarket closed · Oct 20, 7:38 PM ET

Prev close $80.51

ADM analyst rating

HoldConsensus of 6 analysts over the last 12 months. 17% rate it a buy.

Strong buy0
Buy1
Hold4
Underperform1
Sell0

12-month price target · 12 analysts

Average $82.29 (+2.3% upside)

Low: $60.60
Now: $80.46
High: $99.75

Upgrades and downgrades

The latest rating actions, newest first

ADM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 12, 2026	Maintains	Underweight	$77.00 → $75.00	40%
UBS	Aug 17, 2026	Maintains	Buy	$95.00	60%
BMO Capital	Aug 5, 2026	Maintains	Market Perform	$77.00 → $82.00	51%
Barclays	Aug 5, 2026	Maintains	Equal-Weight	$85.00 → $90.00	48%
Morgan Stanley	Aug 5, 2026	Upgrade	Underweight → Equal-Weight	$60.00 → $79.00	61%
Morgan Stanley	Jul 20, 2026	Maintains	Underweight	$58.00 → $60.00	61%
UBS	Jun 15, 2026	Maintains	Buy	$90.00 → $95.00	60%
UBS	May 7, 2026	Maintains	Buy	$70.00 → $90.00	60%
JP Morgan	May 6, 2026	Maintains	Underweight	$65.00 → $74.00	40%
Morgan Stanley	May 6, 2026	Maintains	Underweight	$54.00 → $58.00	61%

The case for and against

Updated Sep 11, 2024

Bull case

Archer-Daniels Midland has demonstrated strong performance in its Starches and Sweeteners segment, with year-over-year growth attributed to higher margins in both North America and the global wheat milling business. The company anticipates a robust year for its Ag Services & Oilseeds sector, bolstered by an increase in US soy crush capacity expected in 2024 due to new plants coming online, while efforts to diversify into more stable segments like Nutrition and BioSolutions are projected to enhance returns and reduce earnings volatility. Additionally, ADM's commitment to share repurchase programs and productivity improvements, alongside favorable ethanol market conditions, further underscores a positive outlook for the company's financial performance.

Bear case

Archer-Daniels Midland (ADM) has lowered its 2023 earnings per share (EPS) outlook to "above $6.90," which falls short of both BMO's and consensus estimates of approximately $7.32. The company anticipates a modest decline in overall results due to pressures in its animal nutrition segment and challenges in maintaining strong margins in the crush and ethanol businesses, leading to diminished confidence in earnings sustainability. Additionally, ongoing leadership changes and investigations may result in a smaller and less profitable Nutrition segment, further complicating ADM's financial outlook amidst an uncertain operating environment.

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