Potash Should Jump on Massive JPMorgan Estimates Boost
by: Notable Calls posted on: April 25, 2008 | about stocks: POT Font Size: PrintEmail JPMorgan is out with a major earnings change on Potash (POT) this morning raising its 2009 EPS estimate to $18.50 from $11.75 a share (vs. consensus $12.70).
Firm's 2008 earnings estimate goes to $10.50 from $8.95 a share.
Notablecalls: Wow, this is probably one the largest EPS estimate raises I've seen in a long time. POT has gotten whacked over the past two days on an apparent "sell-the-news" reaction to their fantastic results.
I suspect POT will be re-testing the $200 level today following JPM's call.
PS: Currently, RBC Capital has the Street high $300 target on POT. This target is based on their 2009 EPS of $15.02, which is over $3 lower than JPM's new EPS estimate, for what it's worth.
nitrogen prices up 25pc in a week, page-9
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