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UPDATE: BMO Capital Markets Downgrades Agrium to Market Perform on

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BMO Capital Markets downgraded Agrium (NYSE: AGU) from Outperform to Market Perform and maintained a $120.00 price target.

BMO Capital Markets commented, "AGU should have a robust H1 serving large North American acreages, though Q1 comps will be challenging as Q1/12 was an early spring, while cold and wet weather has persisted this Q1. Agrium is well run and business prospects remain robust, but the stock has been pushing up on reasonable sum-of-the-parts valuation ranges for some time and we do not see any near-term transactions to materially improve this range. Fertilizer stocks could be pressured this year from corn price futuress, and the trade is turning toward potash- and phosphate-heavy producers… versus nitrogen-heavy producers from weakening urea/ammonia nitrogen sentiment… and higher gas prices.

Agrium closed at $107.21 on Monday.

Latest Ratings for AGU

DateFirmActionFromTo
Aug 2014Accountability ResearchDowngradesBuyHold
Aug 2014UBSMaintainsBuy
May 2014Standpoint ResearchInitiates Coverage onAccumulate

View More Analyst Ratings for AGU
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Downgrades Analyst Ratings

 

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