Credit Suisse Upgrades CF Industries (CF) to Outperform

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Shares of CF Industries (NYSE: CF) have just opened about 1% higher than yesterday's close as we are hearing that an analyst at Credit Suisse upgraded the stock from Neutral to Outperform. The firm also boosted its price target on CF shares from $109 to $128.

The firm's upgrade comes as Credit Suisse also raised its nitrogen and phosphate price forecasts for this year and 2011.

With CF shares last trading around $100 even, Credit Suisse's new price target implies potential upside of about 28%.

In addition, Credit Suisse also said that Agrium (NYSE: AGU) currently offers an attractive risk/reward. The firm lifted its target on AGU shares from $82 to $93. Credit Suisse maintains an Outperform rating on Agrium.

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