Citi Upgrades Fertilizer Producers POT, MOS & AGU
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Citi upgrades Fertilizer Producers Potash (NYSE: POT) & Mosaic (NYSE: MOS) to Buy, Agrium (NYSE: AGU) to Hold.
Citi analyst says, "In recent months investors have been sharply focused on the upcoming China potash contract and the risk potash prices could fall below last year’s $575/t level. However, the bigger risk in our view is that the Ag complex will continue to rally on stronger grain fundamentals. There are three key reasons grain prices are moving higher, thus creating an environment for multiple expansion for fertilizer stocks: Grain Supplies Remain Historically Tight; The US Planting Season Is Seriously Behind Schedule; and Broader Market Stabilization & Easing of Deflation Concerns."
To see more analyst ratings on POT Click Here.
Potash Corporation of Saskatchewan Inc. engages in the production and sale of fertilizers, and related industrial and feed products in North America.
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