Potash a Hold at Current Price – Analyst Blog
Source: http://www.zacks.com/stock/news/18566/Potash+a+Hold+at+Current+Price+-+Analyst+BlogPosted on Thursday, March 26th, 2009 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Potash Corp. (POT), the world’s leading producer of potash and the largest fertilizer producer, has benefited from higher fertilizer application rates, higher crop plantings and increasing demand for biofuels. Rising fertilizer prices, especially potash, boosted Potash Corp’s earnings in 2008.
The company’s manufacturing plants are located in low-cost areas and its financials are solid. However, the global economic crisis and weakened demand are matters of concern. These force us to maintain our Hold rating of the stock.
Currently, the stock is trading at 7.3x our 2009 estimate of $11.52. Thus, we set a target price of $85.00. This is 7.4x our 2009 estimate.
Read the full analyst report on “POT”
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Biofuels, Blog, Fertilizer Producer, Potash Corp., Stocks to Watch, USD, Zacks Market Commentaries
Biofuels, Blog, Fertilizer Producer, Potash Corp., Stocks to Watch, USD, Zacks Market Commentaries
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