Fertilizers Stocks Ride Higher on Surprise Inventory Data (POT) (MOS)
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Price: $20.65 --0%
Rating Summary:
16 Buy, 11 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
16 Buy, 11 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Fertilizers stocks like Potash Corporation (NYSE: POT) and Mosaic (NYSE: MOS) are higher early Friday following positive analyst commentary on the inventory situation.
First, a Morgan Stanley analyst noted that the February North American potash inventory data showed the first decline since October. They expect this trend to continue in March on demand improvement and incremental curtailments. The firm would consider this a "modest" inflection point and expects fertilizer stocks to rally about 10%.
Analysts at BMO echoed the potash inventory commentary, noting that many investors expected another large sequential inventory build in the month. Instead, Potash Corp showed February NA potash inventories declined approx. 16.4k M/m to hold at approx. 3m mt,
Around the sector:
First, a Morgan Stanley analyst noted that the February North American potash inventory data showed the first decline since October. They expect this trend to continue in March on demand improvement and incremental curtailments. The firm would consider this a "modest" inflection point and expects fertilizer stocks to rally about 10%.
Analysts at BMO echoed the potash inventory commentary, noting that many investors expected another large sequential inventory build in the month. Instead, Potash Corp showed February NA potash inventories declined approx. 16.4k M/m to hold at approx. 3m mt,
Around the sector:
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