Potash Corp. (POT) PT Raised to $17.50 at BMO Capital on 3Q17 Fertilizer Preview; 'Already Valuing Higher Fertilizer Prices & Merger Synergies'

BMO Capital raised its price target on Potash Corp. (NYSE: POT) to $17.50 (from $17.00) while maintaining a Market Perform rating, following a quarterly preview of the fertilizer industry.

Analyst Joel Jackson notes a positive outlook following a quarterly preview of the fertilizer industry, resulting in a raising of fourth quarter and 2018 estimates due to expectations for "reasonable increases in phosphate/nitrogen prices, and modest decreases in potash prices after the spring as new greenfield capacity accumulates. That being said, we’ve slightly raised expectations for urea and potash through the spring."

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