Deutsche Bank Maintains Hold Rating On ADM

Deutsche Bank is maintaining its Hold rating on Archer-Daniels-Midland Company (NYSE: ADM).

“While near-term upside relative to our price target exists, we believe valuation accurately reflects longer-term opportunities,” Deutsche Bank writes. “With positioning seemingly altered from the Sept Q, ADM should be able to benefit from current dislocation.

“A pickup in demand for U.S. exports across a variety of crops, likely strong sweetener and starch pricing relative to corn prices, and biodiesel clarity bode well for the future.”

Archer-Daniels-Midland Company closed Friday at $33.45.