PotashCorp (POT) Misses Q4 EPS by 7c; Issues Light Q1, FY16 EPS Outlook

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Scotia Capital Upgrades Potash Corp. (POT) to Sector Outperform; Time for Shorts to Cover

January 29, 2016 6:55 AM EST

Scotia Capital upgraded Potash Corp. (NYSE: POT) from Sector Perform to Sector Outperform with a price target of $18.00 (from $24.00). The firm said shorts should cover and they see a tactical buying opportunity.

The firm's long-term thesis is unchanged. "We still see a widening supply/demand gap, with prices falling toward marginal cost in 2017+. We think POT's 34% divvy cut to $1 is insufficient... More