UPDATE: Canaccord Raises PT on Agrium from $106 to $113

Canaccord maintained a Buy rating on Agrium

and raised its price target from $106 to $113. Cannacord wrote, “We expect the robust outlook for grain prices to continue through at least to the next spring planting season in the US. As a result, we anticipate robust retail earnings for Agrium combined with solid wholesale segment earnings over the next twelve months. We continue to believe that farmers will aggressively plant crops with normalized usage of crops inputs in most regions. We also appreciate the company's efforts to return cash to shareholders.” Agrium closed at $95.24 on Monday.