Dahlman Rose Upgrades Rentech Nitrogen Partners (RNF) to Buy
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Price: $11.41 --0%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Dahlman Rose upgraded Rentech Nitrogen Partners (NYSE: RNF) from Hold to Buy with a price target of $50 in front of what they see as a period of increasingly bullish news flow for the sector heading into the spring 2013 application season.
The analyst comments, "We see a number of upcoming events that are likely to bolster the strong near-term fundamentals for the sector. The news includes 1) the annual USDA Long-Term Agricultural Outlook on February 11th, 2) the USDA Prospective Plantings Report on March 28th, and 3) upcoming USDA WASDE releases on February 8th and March 8th. In these reports, we are mostly looking for preliminary acreage estimates for 2013/2014 to exceed 96.5 MM acres for corn, which should support fundamentals for the nitrogen participants."
For an analyst ratings summary and ratings history on Rentech Nitrogen Partners click here. For more ratings news on Rentech Nitrogen Partners click here.
Shares of Rentech Nitrogen Partners closed at $44.99 yesterday.
The analyst comments, "We see a number of upcoming events that are likely to bolster the strong near-term fundamentals for the sector. The news includes 1) the annual USDA Long-Term Agricultural Outlook on February 11th, 2) the USDA Prospective Plantings Report on March 28th, and 3) upcoming USDA WASDE releases on February 8th and March 8th. In these reports, we are mostly looking for preliminary acreage estimates for 2013/2014 to exceed 96.5 MM acres for corn, which should support fundamentals for the nitrogen participants."
For an analyst ratings summary and ratings history on Rentech Nitrogen Partners click here. For more ratings news on Rentech Nitrogen Partners click here.
Shares of Rentech Nitrogen Partners closed at $44.99 yesterday.
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