BMO Capital Markets downgraded CF Industries Holdings, Inc. CF from Outperform to Market Perform and lowered the price target from $235.00 to $225.00.
BMO Capital Markets noted, "A steep inverse corn price dynamic is playing out again, and could stir up headwinds for fertilizer stocks in H1/13, though corn prices could push up again after this week's USDA reports in time for the seasonally strong pre-spring period for fertilizer equities. Though nitrogen volume is currently relatively lower risk (applied every year, another large U.S. corn acreage in 2013 etc.), CF faces tough y/y earnings comps in 2013 as gas prices are trading higher, and nitrogen prices are unlikely to match 2012 levels."
CF Industries closed at $210.09 on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in