Big Fertilizer Names Hit By Citi Downgrades (POT, MOS, CF, AGU, IPI, MON)
Citigroup is out with some comments on a pair of big fertilizer names today and the news is not bullish. That may be what’s behind a glum performance for the Agricultural Chemical and Fertilizer Stocks Index, which is down 1.1%. The Index is down about 5% in the past month.
Citigroup pared its ratings on Potash Corp of Saskatchew (POT), the world’s largest fertilizer producer, and Mosaic Company (MOS), North America’s second-largest producer of crop nutrients, to “hold” from “buy,” citing valuation and a lack of near-term catalysts. Citi lowered its price target on Potash to $60 from $67 and reduced its price target on Mosaic to $84 from $92. Shares of Mosaic are down 2% while Potash is lower by 3%.
CF Industries Holdings (CF) is down 1% despite analyst Gleacher saying the stock’s valuation is “compelling.” The research firm has a “buy” rating and $165 price target on CF Industries.
Investors can track the Agricultural Chemical and Fertilizer Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
(POT) Potash Corp of Sakatchewan Hikes Dividend by 33% (Stock Blog Hub, 2/25/13)
Value Alert - The Mosaic Company (Wax Ink, 2/25/13)
Mosaic Top Pick At Citi (MOS) (Benzinga, 10/28/10)
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