Archer Daniels Midland (ADM)
is a well-run giant in agricultural processing and logistics, but that
is an inherently volatile business and one where Wall Street often runs
hot and cold. Sentiment appears to be leaning "hot" these days, as the
shares trade at a higher than normal EBITDA multiple and analysts talk
more of "it's different this time" in ethanol while looking for crop
availability and weather issues to reverse. At the right price I have
been and would be a willing buyer of ADM, but it seems like a lot of
positive sentiment is already in the shares at these levels.
Continue reading here:
ADM Getting More Than The Usual Benefit Of The Doubt
No comments:
Post a Comment