Raymond James Reiterates Outperform Rating, $50 PT on Potash Corporation of Saskatchewan

In a report published Wednesday, Raymond James Financial reiterated its Outperform rating and $50.00 price target on Potash Corporation of Saskatchewan

. Raymond James noted, “On balance, we view the recent Sinofert contract as a positive development insofar that we expect it will help lift the dark cloud of uncertainty recently enveloping the sector (and related equities). That being said, we have trimmed our 4Q12 and 2013 estimates to reflect recent market dynamics (i.e. pricing) and this latest contract announcement. We continue to view the stock's discounted valuation as an attractive entry point for long-term investors.” Potash Corporation of Saskatchewan closed on Monday at $40.69.