Canaccord Adams Starts Agrium (AGU) at Buy
More News related to AGU
- Beacon Equity Issues Technical Trade Alerts on Agricultural Chemical Stocks: POT, SYT, AGU, MON, CF, TRA
- UBS Cuts Price Targets on Potash (POT), Agrium (AGU)
- Top 10 News Items 9/29-10/3: Financial Rescue Plan Approved, Markets Tank; Citigroup, Wells Fargo Battle for Wachovia; Buffett Surprises Wall Street with $3B Investment in GE
- Unusual 11 Mid-Day Movers 10/3: WB, GGP, DSL, AGM Higher; FR, ARA, ISLE, KVHI Lower
- Canaccord Adams Downgrades Mosaic (MOS) and Agrium (AGU), Slashes Price Targets On Group
Canaccord Adams initiates coverage on Agrium (NYSE: AGU) with a Buy rating and C$160 price target.
Canaccord cited:
- Strong fertilizer markets throughout our forecast period
- Strong margin expansion and production growth throughout their earnings forecast
- Stability of earnings over the long-run
- Valuation
Canaccord analyst Keith Carpenter said, "we believe the fertilizer market will be robust for years into the future, specifically the potash and phosphate sectors. Prices are expected to remain strong as supply will not be able to meet the growth in demand over the next five years. With current pricing expected to rise into 2009 and 2010, earnings should also continue to increase."
Canaccord's C$160 price targets represents a 63% potential return.
Related Categories
New CoverageStocks Mentioned
-1.92Related Entities
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!
POTASH
FISH MAN on Jul 9, 2008 09:39 PMI THINK THAT AGRIUM HAS HIT PAY DIRT, AS SU CONTINUES TO SUCK GOLD FROM SAND. THESE CANADIAN COMPANIES GOT IT RIGHT. THANK YOU FOR 2008, LOOKING FORWARD TO THE NEXT THREE YEARS. A HAPPY SHAREHOLDER.