In a report published Wednesday, Canaccord Genuity reiterated its Buy rating on Potash Corporation of Saskatchewan POT, but lowered its price target from $54.00 to $51.00.
Canaccord Genuity noted, “We continue to rate the shares of Potash Corp a BUY but have lowered our target price to US$51.00 from US$54.00 previously based upon a 14x multiple to our 2013E EPS of US$3.64.”
Potash Corporation of Saskatchewan closed on Tuesday at $42.63.
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