Market Overview

Mosaic and Potash Corp. Shares Fall Following BGC Downgrade

Share:
Related POT
PotashCorp Prices Offering of $500M of 10-Year Notes
Yes, Healthier Food Is Good For Ag Companies And Investors
Building A Better (Balanced) Dividend Growth Portfolio (Seeking Alpha)
Related MOS
Yes, Healthier Food Is Good For Ag Companies And Investors
Mosaic Offers Historical Financials Under New Segments, Issues Guidance for Each Segment
The March Madness 'Sweet 16' of Stocks - Analyst Blog (Zacks)

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
Mar 2015Raymond JamesMaintainsOutperform
Mar 2015SocGenUpgradesHoldBuy
Dec 2014UBSUpgradesNeutralBuy

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...