Dahlman Rose Downgrades Potash Corp. (POT) to Sell; Weakening Fundamentals, Waning Oligopoly Discipline
Tweet
Share
E-mailGet Alerts POT Hot Sheet
Price: $20.65 --0%
Rating Summary:
15 Buy, 11 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
15 Buy, 11 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Join SI Premium – FREE
Dahlman Rose downgraded Potash Corp. (NYSE: POT) from Hold to Sell with a price target of $41.00.
Dahlman analyst says, "We see the best times for fertilizer moving into the rear-view mirror as high crop prices bring on the expected response from farmers – i.e., strong planting. Assuming a trendline yield of 160 bushels/acre, we expect US corn ending stock levels to increase to around 1.3 billion bushels by the end of marketing year 2012/2013. This is likely to pressure grain pricing and, as a result, fertilizer prices and shares. We see corn prices declining during 2012, and should the 14 billion bushel crop begin to take shape, corn prices could easily approach $4.50/bushel."
For an analyst ratings summary and ratings history on Potash Corp. click here. For more ratings news on Potash Corp. click here.
Shares of Potash Corp. closed at $44.43 yesterday.
Dahlman analyst says, "We see the best times for fertilizer moving into the rear-view mirror as high crop prices bring on the expected response from farmers – i.e., strong planting. Assuming a trendline yield of 160 bushels/acre, we expect US corn ending stock levels to increase to around 1.3 billion bushels by the end of marketing year 2012/2013. This is likely to pressure grain pricing and, as a result, fertilizer prices and shares. We see corn prices declining during 2012, and should the 14 billion bushel crop begin to take shape, corn prices could easily approach $4.50/bushel."
For an analyst ratings summary and ratings history on Potash Corp. click here. For more ratings news on Potash Corp. click here.
Shares of Potash Corp. closed at $44.43 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Canaccord Downgrades York Space Systems (YSS) to Hold, 'Supply chain and contract timing uncertainty'
- Seaport Global Securities Downgrades JetBlue Airways (JBLU) to Neutral
- Kotak Downgrades Travel Food Services (TRAVELFO:IN) to Reduce (3)
Create E-mail Alert Related Categories
DowngradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
