UBS Maintains a 'Buy' on Agrium (AGU); Reducing Fertilizer Price Forecasts

UBS maintains a 'Buy' on Agrium (NYSE: AGU) price target cut from $115 to $107.

UBS analyst says, "UBS has decreased its 2011/2012/2013 price forecasts for potash from $465/500/520 per mt to $458/460/450 per mt. UBS’ long term potash price forecast has also been reduced from $550/mt to $500/mt. The forecasted 2012 DAP phosphate price has been reduced by $50/mt to $525/mt while medium and long term prices remain unchanged."

"We revised our 2011/2012/2013 EPS estimates from $9.44/9.74/8.96 to $9.34/9.43/8.78 to reflect the lower price forecasts."

For an analyst ratings summary and ratings history on Agrium click here. For more ratings news on Agrium click here.

Shares of Agrium closed at $65.17 yesterday.

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