Market Overview

UPDATE: Piper Jaffray Downgrades CF Industries to Neutral; Earnings Upside Already Priced In

Share:
Related CF
Mid-Afternoon Market Update: U.S. Stocks Turn Negative; Energizer Shares Spike Higher
Mid-Morning Market Update: Markets Open Higher; Citigroup Profit Tops Expectations
Mosaic, CF Industries continue to slide on fertilizer market concerns (Seeking Alpha)

Piper Jaffray reduced its rating on CF Industries (NYSE: CF) from Overweight to Neutral and reduced its price target from $250 to $227.

Piper Jaffray commented, "We are downgrading shares of CF from Overweight to Neutral as we believe the favorable earnings set-up for 2013 is largely priced into the stock and that fears of cyclical peak earnings next year will limit further multiple expansion. We acknowledge that the earnings outlook for FY13 remains very positive and our estimates are above consensus, but the impending optimism surrounding a large corn crop next growing season (much like was anticipated this year before the drought set in) will likely resurface fears of cyclical peak earnings."

CF Industries closed at $19.57 on Friday.

Latest Ratings for CF

DateFirmActionFromTo
Dec 2017Stephens & Co.Initiates Coverage OnEqual-Weight
Nov 2017Atlantic EquitiesDowngradesNeutralUnderweight
Nov 2017BMO CapitalMaintainsMarket Perform

View More Analyst Ratings for CF
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (CF)

View Comments and Join the Discussion!