Morgan Stanley Reiterates Overweight and PT of $180 on CF Industries (CF)

Morgan Stanley reiterated its Overweight rating and price target of $180 on CF Industries CF. In a research report published today, Morgan Stanley named good Q1 results and an increase in earnings per share estimates for 2011 and 2012 as reasons for maintaining its rating on CF. In the report, Morgan Stanley states, "We are reiterating our Overweight rating and $180 price target. 1Q11 results should give investors comfort that CF will post a mid to high-teens EPS figure in 2011. While bears may continue to argue that 2011 is going to be “peak”, 2012 numbers are likely going to come in well in excess of what bears thought last week. We are raising our 2011 estimate from $14.50 to $17.00, and our 2012 estimate from $15 to $16 - we see both biased to the upside based on prospective European oil-linked natural gas costs and Chinese anthracite coal costs." In today's trading, CF added 2.07% to its shares and is currently trading at $ 140.67.
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Posted In: Analyst ColorEarningsAnalyst RatingsCF IndustriesFertilizers & Agricultural ChemicalsMaterialsMorgan Stanley
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