Canaccord Adams Downgrades Mosaic (MOS) and Agrium (AGU), Slashes Price Targets On Group
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Canaccord Adams downgraded and lowered price targets and multiples on a number of fertilizer companies today, citing the continued deterioration of the global stock markets and the continued fear of a global recession.
The firm downgrades Mosaic (NYSE: MOS) and Agrium (NYSE: AGU) from Buy to Hold, while maintaining a Buy rating on Potash (NYSE: POT) The firm slashed their price target on Mosaic from $210 to $52 and on Agrium from C$160 to $50. Postash's price target was cut from C$425 to C$150.
Analyst Keith Carpenter said, "The fact that the company (Mosaic) felt the need to significantly reduce phosphate output over the next few months speaks volumes about the status of the current fertilizer demand outlook." Carpenter expects the fear of a the global credit crisis continues to guide the direction of fertilizer equities over the short term.
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POT
Do not believe this dumb analyst! They either do not know what they are saying or a part of the conspiracy to take advantage of small investors by their nonsensical analysis. They should instead keep their mouth shut.
Pathetic
This is so pathetic. I am not saying that the prices will nto drop further but why is it that they always make these recommendations a day or two after the earnings. Why they do not tell us before that. What are these 'analysts' doing? It is the same with RIMM and host of others, a day after they 'dissappoint' with the outlook, every body says sell. How pathetic. Why is anybody publishing their opinion. There should be a stabdard that should be met before any of these would be allowed to officially express their opinions. But Wall Street is now just a hot bed for crooks, liars and parasites.
MOS investor
If you look at from this link: http://finance.yahoo.com/q/ao?s=mos, you can see at 7/9/08 Canacord Adams initiated a Buy rating for MOS (with $210?), at that day, MOS has already started dropping for 10 days from its highest price $162. Looks like Anacord Adams sent signals to people to continue to buy whatever hedge funds started to sell. Those analysts are not paid to make ordinary small investor to be rich, they must work for bigger interest of themselves, hand in hands with big investors stealing money from us. If this is not true, then the truth would be they are actually not credible with their estimates!
This estimate is base on his current feeling, maybe he will change again whenever he's feeling little better
There is huge difference between the previous estimate and the current one shows already that this analyst Keith Carpenter doesn't know really what he is talking about!!! Looks like he is giving his estimate base on his feeling, emotion, and what's going on only in the US, and not based on world wide supply/demand. If US is dry out of credit, Asia doesn't.
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pot, agu, mos ANALYST
ismail on Oct 5, 2008 10:44 AMwhy should we believe these analysts who downgrade or upgrade after the fact and in line with other u.s. based collegues. They know where the wind is blowing. To reduce targets to rediculos levels is absurd. Isnt potash ;used for food - a defensive sector?