Loading...
Loading...
Agrium
AGU reported 4Q2010 EPS of $1.38 excluding special items, compared to the prior guidance range of $1.00-$1.30 and our and the consensus estimate of $1.14. Retail EBIT of $47 mn marked a new record for 4Q as earnings benefited from the early harvest, favorable weather during application season, high crop prices, and strong nutrient demand.
Goldman Sachs is updating its EPS estimates for 2011/2012 to $7.57/$8.00 from $7.81/$7.99 to reflect the potential for lower volumes following a robust fall application season which may have pulled from the upcoming spring demand. Goldman is maintaining a Neutral rating and raising its 12-month price target to $98 based on our SOTP analysis, which takes into account its revised EBITDA estimates and lower current net debt level.
Downside risks include lower fertilizer application demand and nutrient pricing. Upside risks include higher crop commodity prices and lower natural gas costs. Goldman has a Neutral rating on AGU.
AGU closed Friday at $97.84
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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