UBS Reiterates Buy on CF Industries (CF) After Meeting with Management
- Wall Street opens higher as oil prices rise
- BlackBerry (BBRY) Tops Q2 EPS by 5c; Will End Internal Hardware Development; Boosts FY17 Outlook
- Nike (NKE) Tops Q1 EPS by 17c; Futures Orders Miss Views
- Oil climbs after industry data shows U.S. inventory draw
- Pre-Open Stock Movers 09/28: (SEED) (AVXL) (ATHX) Higher; (GALT) (TPX) (SONC) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
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."
Shares of CF Industries closed at $24.02 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: UBS Upgrades Hi-Crush Partners LP (HCLP) to Neutral
- Corning (GLW): TVs Driving Upside To Glass Demand - Susquehana
- Nomura Maintains Buy on Nike (NKE) Despite Disappointing Future Orders; PT to $60
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!