Potash Corp Upgraded to Neutral by HSBC (POT)
Potash Corp (NYSE:POT) was upgraded by equities researchers at HSBC from an “underweight” rating to a “neutral” rating in a research report issued on Monday, StockRatingsNetwork reports. The firm currently has a $31.00 target price on the stock, up from their previous target price of $22.50. HSBC’s price objective would indicate a potential downside of 1.27% from the company’s current price.
The analysts wrote, “Investors have been battered by storms in all three nutrient sectors as major disruptions hit the broad fertiliser world in the past six months. As a result, time horizon and risk/reward have become much more important factors for investment decisions. Urea prices may have bottomed out, though lack near-term catalysts. Potash producers are still reeling, but we think the worst of the crisis has passed, and prices may rise in the medium term. The eventual return of Indian demand means phosphates have the clearest road to recovery, and this nutrient is our preferred of the three.”
Shares of Potash Corp (NYSE:POT) opened at 31.40 on Monday. Potash Corp has a 52-week low of $28.55 and a 52-week high of $44.13. The stock’s 50-day moving average is $31.91 and its 200-day moving average is $35.9. The company has a market cap of $27.105 billion and a price-to-earnings ratio of 13.96.
Potash Corp (NYSE:POT) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.43 by $0.02. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was down 29.1% on a year-over-year basis. On average, analysts predict that Potash Corp will post $2.21 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Scotiabank reiterated a “sector perform” rating on shares of Potash Corp in a research note to investors on Friday, October 25th. They now have a $28.00 price target on the stock. Separately, analysts at Desjardins cut their price target on shares of Potash Corp from $38.50 to $35.55 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Finally, analysts at CIBC reiterated a “sector perform” rating on shares of Potash Corp in a research note to investors on Friday, October 25th. They now have a $33.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.36.
Potash Corporation of Saskatchewan Inc (NYSE:POT) is an integrated fertilizer and related industrial and feed products company.
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