TD Securities Downgrades Agrium (AGU) to Hold, Thinks Consensus 2013 EPS Too High

October 2, 2012 9:36 AM EDT
Get Alerts AGU Hot Sheet
Price: $105.19 --0%

Rating Summary:
    14 Buy, 15 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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TD Securities downgraded Agrium (NYSE: AGU) from Action List Buy to Hold.

Analyst believe that, after a 57 percent run, the stock is now trading at fair value.

Given the extended potash outage in Q3/13, higher natural gas costs, higher phosphate costs, and limited earnings contribution from MOPCO analysts also think that Consensus 2013 EPS is too high.

“We continue to favourably view AGU's diversified business model and increased shareholder friendliness, but stock price upside looks modest to us now. We are encouraged by JANA Partners' shareholder activism, but at this time we do not see a clear value trigger. We would be buyers of AGU below $97/share,” said analyst Paul D'Amico.

For an analyst ratings summary and ratings history on Agrium click here. For more ratings news on Agrium click here.

Shares of Agrium closed at $105.53 yesterday.

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