Fraser Mackenzie Downgrades Potash Corp. (POT) to Market Perform; Valuation Call; Now Consider Junior Plays

Fraser Mackenzie downgraded Potash Corp. (NYSE: POT) from Buy to Market Perform with a price target of $46.00.

Fraser analyst said, "Improving market sentiment along with strengthening agricultural commodity prices have led to a surge in Potash shares. The stock is up 23% from a month ago tracing a similar move by major fertilizer peers and far outpacing North American indices...We continue to foresee a good year of earnings with EPS estimated at $3.40 at the midpoint of management guidance."

The firm thinks the recent run-up in share price offer little upside, and now recommends going with 'Junior' potash plays like Allana Potash (OTC: ALLRF), IC Potash (ICP on Toronto exchange) and Karnalyte Resources (KRN on Toronto exchange).

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 $45.07 yesterday.

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