Citi Raises Fertilizer Price Forecasts - Maintains 'Buy' Rating on CF, AGU, MOS, POT and TRA February 29, 2008 10:01 AM EST
Citi analyst says, "We are raising our fertilizer price forecasts following the recent run-up in spot markets. Most notable is phosphates where we are raising our 2008 price forecast by +45%. Prices may continue to surprise to the upside in '08-'09 if soft commodity prices remain near current levels."
"We remain universally positive near term. CF Industries (NYSE: CF) (target to $164 from $146) is our top pick, followed by Agrium (NYSE: AGU) (tgt to $88 from $82) and Mosiac (NYSE: MOS) (tgt to $142 from $121), and then Potash Corp (NYSE: POT) (tgt to $195 from $178) and Terra Industries (NYSE: TRA)."
