Potash (POT) Upgraded Fertilizer Stocks Set to Move
March 08, 2010 9:01 PM
Morgan Joseph just upgraded Potash (NYSE: POT) from a hold to a buy rating. Late last week Deutsche Bank initiated coverage on The Mosaic Company (NYSE: MOS) with a hold recommendation, and on Agrium (NYSE: AGU) with a buy recommendation. All three stocks have been rising steadily throughout the year.
In other fertilizer company news, CF Industries Holdings (NYSE: CF) is conducting its second tender offer for Terra Industries Inc. (NYSE: TRA) trying to beat out Norwegian privately held giant Yara Industries with a bid that's almost 15% higher than Yara's. Agrium is also expected to increase its own bid for CF Industries.
As spring demand for fertilizer increases and a price war breaks out over competing mergers there should be plenty of opportunity to cash in on a few timely trades.
