UPDATE: Cantor Fitzgerald Upgraded Potash to Hold and Lowered EPS Estimates

In a report published Thursday, Cantor Fitzgerald analyst Peter Prattas upgraded Potash Corporation POT from Sell to Hold and reduced EPS estimates for 2013 and 1014. Potash released their 3Q results this morning. The company reported a 3Q13 EPS of $0.41 (equal to consensus) and noted that the average potash price was down 14% from 2Q or 29% YoY. Potash lowered the annual EPS guidance from a range of $2.45-$2.70 to $2.00-$2.20. Prattas agreed with this reduction, noting that the shares are now appropriately priced. Cantor Fitzgerald reduced their 2013 EPS estimates from $2.26 to $2.15, and 2014 estimates from $2.30 to $2.00 following lower sales volume of fertilizer. The analyst commented, “We continue to believe that the current dividend is sustainable. The stock offers an attractive 4.7% yield and has the longer-term potential to trade much higher if and when a resolution to the BPC dispute occurs.” Potash Corporation 3Q Conference call will be held at 1:00pm E.T. Investors and the general public may access this call at 1-877-881-1303 or 1-412-902-6510. Potash closed at $31.70 on Wednesday.