Analyst Upgrades Potash (POT), Downgrades Agrium (AGU) to Neutral, CF (CF) to Underweight (MOO)

Atlantic Equities Colin Isaac revised ratings on a number of stocks in the Ag sector Tuesday morning:

• upgraded Potash (NYSE: POT) from Neutral to Overweight, price target maintained at $60;
  
• downgraded Agrium (NYSE: AGU) from Overweight to Neutral, price target reduced from $100 to $90; and
  
• downgraded CF Industries (NYSE: CF) from Neutral to Underweight, price target reduced from $160 to $150.

Isaac maintains a Neutral rating on shares of Mosaic (NYSE: MOS) but reduced his price target on the stock from $72 to $70.

The analyst is concerned with an increasing prospect for a correction in corn prices. On the two downgrades, Isaac cited "extremely low" visibility on the pricing of nitrogen moving forward. In contrast, Isaac sees potential for upside to potash pricing.

Despite the downgrades, the Ag sector is moving higher this morning amid rising crop prices. The Market Vectors Agribusiness ETF (NYSE: MOO) is currently up 2.3 percent.

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