UPDATE: Credit Suisse Lowers PT on Agrium on Continued Retail Segment Focus
In a report published Tuesday, Credit Suisse analyst Christopher S. Parkinson reiterated an Outperform rating on Agrium (NYSE: AGU), but lowered the price target from $132.00 to $125.00.
In the report, Parkinson noted, “Regardless of what ‘side' investors took in recent debates (if any), it is clear that the focus remains on improving longer-term performance in the retail segment. While we would certainly credit recent shareholder debates for re-focusing investors' attention on retail operations, we believe this would have naturally occurred this year due to its increasing profitability contribution relative to the nitrogen segment due to passing peak fundamentals in 2012.”
Agrium closed on Monday at $91.27.
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