Goldman Sachs Bumps Price Target On Potash (POT)

Goldman Sachs lifted its price target on Buy-rated Potash Corp. (NYSE: POT) from $58 to $61 following Q3 results.

The firm raised 2012E/2013E EPS to $4.60/$4.94 from $4.55/$4.88. They maintained an outlook for another $100 per mt increase in average realized K prices in 2012. That said, they expected limited near-term momentum, as US distributor inventories look fully stocked and the expect tough negotiations with China for the 1H12 contract.

While maintaining a Buy, the firm is incrementally more concerned about the potential for inventory overhang to dampen K price momentum in the short-term.

For more ratings news on Potash Corp. click here and for the rating history of Potash Corp. click here.

Shares of Potash Corp. closed at $50.92 yesterday.

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