Bank of America Raises Estimates & PT on Potash Corp. of Saskatchewan

Bank of America raises the PO on Potash Corp. POT to $171 reflect rapidly strengthening operating and competitive environment for potash, built upon strong demand, tight producer inventories and an improving industry structure. B of A expects potash prices and profitability during 1H:11 to narrow its significant performance gap versus other nutrients that began in mid-2010. With potential M&A-related factors removed from near-term consideration, we believe fundamental investors will be drawn to POT's rising earnings potential and bellwether status as a preferred vehicle to gain exposure to the powerful agricultural upcycle well underway. Bank of America has a Buy rating on POT POT is trading higher at $166.78