Thursday, March 25, 2010

Morgan Stanley (NYSE:MS) Reduces EPS Estimates for Archer Daniels Midland (NYSE:ADM)

Morgan Stanley Lowers Archer Daniels Midland Earnings Estimate

Based largely on declining ethanol profits, Morgan Stanley (NYSE:MS) reduced its estimate for earnings per share for Archer Daniels Midland (NYSE:ADM), saying ethanol profits, or lack of them, will pressure earnings through 2011.

In spite of the downgrade in estimate for earnings per share, Morgan Stanley did maintain its $33 a share price target and kept the stock at an Equal Weight rating.

Archer Daniels was down almost 3 percent on the day.

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