Market Overview

Mosaic and Potash Corp. Shares Fall Following BGC Downgrade

Share:
Related POT
Benzinga's Top Downgrades
Fast Money Picks For April 21: Facebook, Under Armour, Potash Corp., Macy's
Why I Will Be Buying More Potash Corp. (Seeking Alpha)
Related MOS
Mosaic: The Technical Take
Benzinga's Top Upgrades
Take Your Pick Of News And Its Interpretation (Seeking Alpha)

BGC Partners analyst Mark Gulley downgraded Potash Corp. of Saskatchewan, Inc. (NYSE: POT) and The Mosaic Company (NYSE: MOS) from Buy to Hold and lowered estimates.

Gulley commented that potash price remains under pressure due to excess supply and the lack of demand. The 2014 potash price is estimated to be $350/mt. The analyst writes that there is "nil" upside potential from current levels. Gulley's note follows Morgan Stanley's report stating that potash settling above $300 will be a "challenge."

BGC cut Potash Corp. 2014 EPS estimate from $2.33 to $2.07. The analyst also lowered Mosaic's EPS estimate from $3.00 to $2.84.

On November 13, Mark Gulley downgraded shares of Agrium Inc. (NYSE: AGU) from Buy to Hold and maintained a $95 price target. Since then, shares of Agrium have moved as low $89. Generally, POT, MOS, and AGU shares trade closely.

Today, Potash Corp. and Mosaic have been down 1.42 percent and 1.17 percent, respectively. Agrium shares have done the opposite, though, trading up almost 0.50%. Investors could speculate that there is no more downside for Agrium.

Latest Ratings for POT

DateFirmActionFromTo
May 2015TD SecuritiesDowngradesBuyHold
May 2015BarclaysMaintainsEqual-weight
Apr 2015RBC CapitalMaintainsSector Perform

View More Analyst Ratings for POT
View the Latest Analyst Ratings

Posted-In: bgc partners Mark Gulley Morgan StanleyAnalyst Color Downgrades Analyst Ratings

 

Related Articles (AGU + MOS)

Around the Web, We're Loving...