Potash Lower as More Analysts Turning Bearish (POT, MON, more)

Shares of Potash Corp. (NYSE: POT) are down about 8% today on the back of several negative analyst actions this morning. The stock most recently traded at $66.39.

First, an analyst at Goldman Sachs downgraded Potash from Buy to Neutral. The analyst also downgraded shares of Monsanto (NYSE: MON), moving two of the better performing stocks in the sector to Neutral.

Next, BMO Capital cut its price target on Potash from $145 to $115, but maintained its Outperform rating. With today's downside move, BMO's new price target represents potential price appreciation of about 73% from current levels.

The entire ag sector is trading lower this morning, likely either on the analyst comments related to Potash and Monsanto, or just general weakness in the commodities space. Elsewhere in the sector: Monsanto down 7.5% to $66.26, Mosaic (NYSE: MOS) down 7.7% to $31.05, Agrium (NYSE: AGU) down 6% to $29.16, CF Industries (NYSE: CF) down 5.8% to $45.13 and Intrepid Potash (NYSE: IPI) down 6.7% to $17.52.

Potash Corporation of Saskatchewan, Inc. engages in the production and sale of fertilizers, and related industrial and feed products in North America.

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