BMO Capital Markets reiterated an Outperform rating on CF Industries Holdings CF and raises its price target from $222 to $235.
BMO Capital Markets wrote, “CF remains rated Outperform but we raised our target price to $235 from $222. We continue to prefer U.S. nitrogen-heavy names such as CF and Agrium (AGU-NYSE; $97.27; OP). CF has provided reasonable and clearly defined capital allocation guidance, and has likely raised the floor price for CF's share price considering recent buybacks and buyback intentions. A good fall nitrogen application season likely needs more moisture, but there is still time for this to develop in contrast to the irreversible damage already done to U.S. crops.”
CF Industries Holdings closed at $206.7 on Tuesday.
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