JP Morgan Downgrades Potash Corp.

Earlier today JP Morgan downgraded shares of Potash Corp. of Saskatchewan, Inc.

from Overweight to Neutral and maintained its $38 price target. As shares of Potash are nearing the firms price target (closed Tuesday at $37.28), the downgrade appears to be a valuation call. The analyst at JP Morgan noted that Potash has performed well so far this year and pointed out that since bottoming out in January, the stocks value has risen 13 percent.