TD Securities Upgrades Agrium (AGU) to Buy After Board Re-Elected

April 10, 2013 8:04 AM EDT
Get Alerts AGU Hot Sheet
Price: $101.65 -2.7%

Rating Summary:
    14 Buy, 15 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 54
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TD Securities upgraded Agrium (NYSE: AGU) from Hold to Buy with a price target of $115.00. The upgrade follows the election of Agrium's incombent board nominees.

"Fundamentally, we believe that the election of Agrium director nominees will provide continuity in the company's overall strategy and operational management," said analyst Paul D'Amico. "However, in the near term, we would not be surprised to see some stock price weakness as JANA piggy-backers and or 'fast money' per se likely reduce their holdings of AGU's stock on the back of a lack of potential value catalysts from JANA."

The upgrade is also tied to a 10 percent decline in Agrium's stock in the past month.

For an analyst ratings summary and ratings history on Agrium (NYSE: AGU) click here. For more ratings news on Agrium click here.

Shares of Agrium closed at $95.04 yesterday.

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