UPDATE: Canaccord Genuity Reiterates Buy Rating, Raises PT on Agrium

In a report published Wednesday, Canaccord Genuity reiterated its Buy rating on Agrium AGU, and raised its price target from $113.00 to $124.00. Canaccord Genuity noted, “We continue to rate the shares of Agrium a BUY but have increased our target price to US$124.00 from US$113.00 previously based upon a 12x multiple to our 2013E EPS of US$10.30.” Agrium closed on Tuesday at $105.36.