Scotia Capital Has Sector Outperform on Agrium
Scotia Capital is out with a research report on Agrium (NYSE: AGU) and it has an Sector Outperform rating and a $109 price target on shares.
In a note to clients, Scotia Capital writes, "MOPCO is tripling its capacity to 1.95M mt of urea and 0.15M mt of net ammonia. Commissioning of the $1.8B expansion is currently scheduled to begin in mid-2012, although this could now be delayed depending on how long the complex is offline. AGU will have a 26% stake in the expansion, with no additional equity commitment required."
Shares of AGU closed at $76.57 yesterday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.