Tuesday, September 14, 2010

Archer Daniels Midland (NYSE:ADM) Downgraded by Standpoint Research

Standpoint Research downgraded Archer Daniels Midland (NYSE:ADM) today from "Buy" to "Hold."

Since June 7 when they hit $24.51, the company has been on a tear, rising to $32.32.35 today (although they're down in today's session).

Standpoint said the valuation and increase of 30 percent during that time leaves little room for upward movement.

ADM has been trying to push ethanol on us in order to gain from the increased demand, but that has been fought against by an increasing number of people because of the damage done to equipment and cars, and the huge amounts of input needed to raise corn.

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