Market Overview

Ag/Fert Stocks Higher Following Continued Uralkali Rumors; Analyst Calls Rally 'Overblown'

Share:
Related POT
Fast Money Picks For April 21: Facebook, Under Armour, Potash Corp., Macy's
Top 4 NYSE Stocks In The Agricultural Chemicals Industry With The Highest Operating Margin
Tracking Ole Andreas Halvorsen's Viking Global Portfolio - Q1 2015 Update (Seeking Alpha)
Related MOS
Benzinga's Top Upgrades
RBC Capital Upgrades Mosaic To Outperform

Stocks in the Ag sector are pushing noticeably higher Monday following a Forbes report suggesting Suleiman Kerimov could sell a large stake in Uralkali.

Shares of Potash (NYSE: POT) are up around 3.4 percent, shares of Mosaic (NYSE: MOS) are up 3.4 percent, and shares of Agrium (NYSE: AGU) are up 1.5 percent. Leading the group higher is Interpid Potash (NYSE: IPI) up nearly 5 percent at last check.

Credit Suisse's Christopher Parkinson issued a note earlier calling the move higher in these names "overblown." The analyst said a return to the prior structure is "extraordinarily unlikely." He believes there is little chance the issue will be resolved over the near term.

Parkinson currently has an Outperform rating on Agrium shares, a Neutral rating on Mosaic and CF (NYSE: CF), and Underperform ratings on Potash and Interpid Potash.

Latest Ratings for POT

DateFirmActionFromTo
May 2015BarclaysMaintainsEqual-weight
Apr 2015RBC CapitalMaintainsSector Perform
Apr 2015HSBCUpgradesNeutralBuy

View More Analyst Ratings for POT
View the Latest Analyst Ratings

Posted-In: Analyst Color News Commodities Markets Analyst Ratings Movers

 

Related Articles (AGU + CF)

Around the Web, We're Loving...