UPDATE: BMO Capital Upgrades The Andersons

Benzinga

In a note released Wednesday, BMO Capital analyst Kenneth Zaslow upgraded shares of The Andersons (NASDAQ: ANDE) from Market Perform to Outperform and raised the price target from $55 to $56.

The company's shares are performing well in Wednesday's session, trading up around eight percent.

Zaslow has highlighted the stock's recent poor performance - down about 30 percent in the last month - as creating an "attractive entry point."

Zaslow commented, "Andersons has become a compelling investment opportunity in our view based on its 2015 earnings power reflecting recent capital investments, strong ethanol fundamentals, and the likely inflection point in its grain business in 4Q."

To conclude, Zaslow noted that Andersons is well positioned to expand its storage capacity through acquisitions and predicted that the company will be able to bring in grain margins in the high end of its normal range.

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