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- Argus increases its price target on Buy-rated Archer-Daniels-Midland Company (ADM -0.1%) to $74.
- Analyst Taylor Conrad and team are even more confident on ADM based on recent trends in sales, margins, and commodity prices. The firm pushes up its 2021 adjusted EPS estimate to $4.90 from $4.82 and sees 2022 EPS of $4.95 vs. $4.79 prior and $4.77 consensus.
- "We have a favorable view of ADM's long-term strategy, which includes expansion through bolt-on acquisitions and joint ventures, the sale of underperforming businesses and cost-cutting initiatives."
- A dividend boost is also anticipated for ADM this year.
- The Seeking Alpha Quant Rating on ADM of 4.27 places it in the top 10% of all consumer staples stocks.