UPDATE: Credit Suisse Reiterates On CF Industries On Expected Weak 4Q

In a report published Wednesday, Credit Suisse analyst Christopher S. Parkinson reiterated an Outperform rating on

, and raised the price target from $315.00 to $330.00. In the report, Credit Suisse noted, “Despite our previous cautious view on urea/UAN prices in 4Q, we note prices bounced off their respective ‘bottoms' and have improved on a sequential basis in Dec & Jan, which we believe is sustainable throughout Q1. We remain cautious on US ammonia prices in the ultra near term due to the deterioration of Black Sea pricing, but believe the weakness should be short lived as we head into the seasonally strong 2Q. In our view it is well understood that 4Q results will be relatively weak due to a lackluster fall application season, but stress the risk to 2015 estimates is now to the upside. We are raising our '15 EPS est. to $23.90 (from $22.13) and our '16 est. goes to $26.70 (from $25.47). We are increasing our TP to $330 (from $315).” CF Industries closed on Tuesday at $299.24.