Archer Daniels Midland "We are raising our 12-month target price to $37 and maintaining our outperform rating on ADM following 3Q earnings," Credit Suisse analysts wrote in a May 1 report. "While the results in the quarter were not great, the company executed well in a tough oilseeds environment and delivered better ethanol results than we feared. This reinforces our conviction that the company's transition to a more ROIC-focused management is working, and that ADM is set up for a much stronger FY 13. We expect ADM to benefit from a 12-14% increase in U.S. corn production, strong origination out of North America in the fall to compensate for the weak Brazilian soy crop, temporary shutdowns of 14-15 "destination" ethanol plants by competitors outside of the corn belt, and full realization of $150 million in savings from workforce reductions and the elimination of financial reporting redundancies by March, 2013." Shares of Archer Daniels Midland hit a 52-week high Thursday of $33.98. The stock's 52-week low of $23.69 on Oct. 4. Archer Daniels Midland's forward P/E is 10.8; the average for food products companies is 14.74. For comparison, Bunge ( BG) has a lower forward P/E of 8.93. Seven of the 15 analysts who cover Archer Daniels Midland rated it buy. Six analysts gave the stock a hold rating and two rated it sell. The stock has risen 18.22% year to date.