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Archer-Daniels Midland Co ADM Stock Quote

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Morningstar‘s Stock Analysis ADM

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Archer-Daniels Midland Overvalued as We See Long-Term Grain Merchandising Conditions Moderating

Analyst Note

| Seth Goldstein, CFA |

After updating our model to incorporate Archer-Daniels Midland's third-quarter results, we raise our fair value estimate to $70 per share from $67. Our no-moat rating is unchanged. The primary driver of our fair value estimate increase is our improved near-term outlook as we expect grain merchandising conditions will remain favorable for the rest of 2022 and into 2023. Accordingly, we have raised our near-term outlook for its ag services and oil seeds business, which generates the majority of companywide profits.

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Key Statistics ADM

Company Profile ADM

Business Description

Archer-Daniels Midland is a major processor of oilseeds, corn, wheat, and other agricultural commodities. Additionally, the company owns an extensive network of logistical assets to store and transport crops around the globe. ADM also runs a nutrition business that focuses on both human and animal ingredients. The company is also a large producer of corn-based sweeteners, starches, and ethanol.

77 West Wacker Drive, Suite 4600
Chicago, IL, 60601
T +1 312 634-8100
Industry Farm Products
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 40,739

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