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UPDATE: UPDATE: JPMorgan Upgrades Potash Corp. (POT) to Overweight, Sees Improved Cash Flow

April 1, 2013 7:25 AM EDT Send to a Friend
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Price: $34.56 -1.26%

Rating Summary:
    9 Buy, 20 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 25 | Down: 20 | New: 23
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(Updated - April 1, 2013 9:09 AM EDT)

(Updated - April 1, 2013 7:28 AM EDT)

JPMorgan upgraded Potash Corp. (NYSE: POT) from Neutral to Overweight with a price target of $45.00 (from $43.00). The stock has underperformed the market since 2010 and analyst Jeffrey J. Zekauskas thinks improved free cash flow will fuel improved stock performance.

"The company now has sufficient potash capacity (demand is currently 8-9 million tons annually) that its free cash flow yield should sustainably climb from 2014 to the end of the decade. We believe this powerful free cash flow dynamic fundamentally improves the investment characteristics of Potash Corp. Moreover, we place the replacement value of the company at $56 per share, representing more than a 42% premium to the current share price."

For an analyst ratings summary and ratings history on Potash Corp. (NYSE: POT) click here. For more ratings news on Potash Corp. click here.

Shares of Potash Corp. closed at $39.25 yesterday.




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