With corn prices expected to find continual support over the next year, Corn Product International (NYSE:CPO) was upgraded by Citigroup Inc. (NYSE:C) from "Hold" to "Buy."
Higher corn prices should mean higher margins, and ultimately, higher earnings for the next several quarters for Corn Products.
Since plunging to $28.94 on July 2, Corn Products International has soared to $42.55 a share as of close on Friday.
Citi has a price target of $51 on Corn Products, increasing it from $44.
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