UPDATE: Canaccord Genuity Reiterates Buy Rating, Lowers PT on Potash Corporation of Saskatchewan

In a report published Wednesday, Canaccord Genuity reiterated its Buy rating on Potash Corporation of Saskatchewan

, but lowered its price target from $54.00 to $51.00. Canaccord Genuity noted, “We continue to rate the shares of Potash Corp a BUY but have lowered our target price to US$51.00 from US$54.00 previously based upon a 14x multiple to our 2013E EPS of US$3.64.” Potash Corporation of Saskatchewan closed on Tuesday at $42.63.