Market Overview

UPDATE: Piper Jaffray Upgrades Agrium to Overweight on Distribution Improvements

Related AGU
Top 4 NYSE Stocks In The Agricultural Chemicals Industry With The Highest EPS
Agrium Obtains Issuer Bid Exemption Order to Permit Purchases by Way of Private Agreement
10 Strategic Dividend Dogs Average 4% Yields For Fall (Seeking Alpha)

Piper Jaffray raised its rating on Agrium (NYSE: AGU) from Neutral to Overweight and increased its price target from $110 to $122.

Piper Jaffray noted, "We are upgrading AGU shares to Overweight and lifting our price target from $110 to $122 as we believe the prospect of operational improvements within Agrium's crop input distribution business have the potential to drive sustainable earnings growth through FY14 and significant working capital reductions, which in turn could be used for additional share buybacks. While activist shareholder JANA Partner's proposals have been met with stiff resistance from Agrium management, we believe that significant shareholder value creation may come from surfacing some of the issues raised by JANA."

Agrium closed at $102.02 on Friday.

Latest Ratings for AGU

Oct 2015BarclaysMaintainsOverweight
Sep 2015Raymond JamesMaintainsMarket Perform
Aug 2015BarclaysMaintainsOverweight

View More Analyst Ratings for AGU
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Upgrades Intraday Update Analyst Ratings


Related Articles (AGU)

View Comments and Join the Discussion!

Get Benzinga's Newsletters