UPDATE: Goldman Sachs Assumes CVR Partners with Neutral Rating on Coverage Transfer
In a report published Monday, Goldman Sachs analyst Adam Samuelson assumed coverage on CVR Partners (NYSE: UAN) with a Neutral rating, but lowered the price target from $29.00 to $23.00.
In the report, Samuelson noted, “With this report, we transfer coverage of CVR Partners (UAN) to Adam Samuelson from Ted Durbin, maintain our Neutral rating and add the stock to our Fertilizer coverage group with a Neutral coverage view. We see 9% downside to our $23 12-month price target, implying 1% total return potential vs. 7% upside across our Fertilizer coverage. While concerned about the long-term growth prospects for UAN shares given pure-play exposure to US nitrogen, we keep a Neutral rating.”
CVR Partners closed on Friday at $25.17.
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