Archer-Daniels Midland Co

ADM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$22.00	Rrtqk	Nymsqhfh

ADM Earnings: Shares Fall as Management Expects Favorable Grain Merchandising Conditions to Moderate

Seth Goldstein

Apr 25, 2023

After incorporating Archer Daniels-Midland's first-quarter results into our valuation model, we maintain our $70 per share fair value estimate. Our no moat rating is also unchanged.

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