J.P. Morgan Overweight On Potash Corp. (POT)

J.P. Morgan has an Overweight rating and a $60 price target on shares of Potash Corp. POT. In a note to clients, J.P. Morgan writes, "We edged higher our Potash Corp earnings estimate from $3.17 for 2011 to $3.20, and we lifted our 2012 projection from $3.25 to $3.50. Our 2011 EPS forecast reflects slightly lower 1H:11 estimates for potash gross profits versus our previous estimate due to the timing of shipments limiting the realization of higher selling prices. We lifted our 2H:11 profit projections reflecting potash and phosphate shipments at higher average selling prices. The basis of our 2012 EPS increase is also due to higher potash and phosphate sales and profits reflecting higher selling prices. Our initial 2013 EPS projection is $3.75." Shares of POT lost $1.12 yesterday to close at $60.00.