TD Securities Maintains a 'Buy' on Potash Corp. (POT); Increased Conservatism
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Price: $20.65 --0%
Rating Summary:
15 Buy, 11 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 11 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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TD Securities maintains a 'Buy' on Potash Corp. (NYSE: POT) price target of $60.00 (from $62.00).
Analyst, Paul D'Amico, said, "We see the operating result and outlook as neutral, given 1) EPS (adjusted basis) is in line with consensus and 2) full-year guidance is maintained for potash sales volume and EPS (aside from adjustment for Q2/12 impairment charge). The guidance introduced for Q3/12 is below expectations, and highlights that full-year guidance is back-end weighted. This should not be a surprise, especially given the delay in the Canpotex/China and India contracts, but we speculate that some investors may not be willing to extend such patience. Consequently, we expect the stock to be range-bound over the near term until there is clarity on the China and India potash contracts, currently expected in August and September, respectively."
FY12 EPS estimate lowered from $3.52 to $2.88 and FY13 from $3.76 to $3.52.
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 $44.99 yesterday.
Analyst, Paul D'Amico, said, "We see the operating result and outlook as neutral, given 1) EPS (adjusted basis) is in line with consensus and 2) full-year guidance is maintained for potash sales volume and EPS (aside from adjustment for Q2/12 impairment charge). The guidance introduced for Q3/12 is below expectations, and highlights that full-year guidance is back-end weighted. This should not be a surprise, especially given the delay in the Canpotex/China and India contracts, but we speculate that some investors may not be willing to extend such patience. Consequently, we expect the stock to be range-bound over the near term until there is clarity on the China and India potash contracts, currently expected in August and September, respectively."
FY12 EPS estimate lowered from $3.52 to $2.88 and FY13 from $3.76 to $3.52.
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 $44.99 yesterday.
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