UBS Reiterates Buy on CF Industries (CF) After Meeting with Management

September 19, 2016 9:00 AM EDT
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Price: $30.37 +2.19%

Rating Summary:
    11 Buy, 9 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 18 | New: 19
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UBS reiterated a Buy rating and $28.00 price target on CF Industries (NYSE: CF) after meeting with management.

Analyst John Roberts commented, "1) Customers are cautious due to lackluster crop prices and are focused on just-in-time inventories; and along with new capacity coming online, the nitrogen market should remain challenged throughout 2017; 2) NOLA urea prices fell to $165/ton earlier in the year and even at current ~$180/ton level, management believes that prices are significantly below what the economics would indicate; 3) A significant portion of global urea capacity is at or below cost; 4) Low-cost position and scale position CF well for a recovery in 2018 forward as new capacity additions are limited; 5) Management reiterated is capital allocation discipline and believes maintaining investment grade status provides long-term flexibility."

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

Shares of CF Industries closed at $24.02 yesterday.



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