UPDATE: RBC Capital Markets Initiates Coverage on Agrium on Strong Upside

In a report published Wednesday, RBC Capital Markets analyst Chris Nocella initiated coverage on

with an Outperform rating and $115.00 price target. In the report, RBC Capital Markets noted, “Agrium has built the most diverse, vertically integrated agricultural input business with continued opportunities to expand both organically and through acquisitions. We believe the company has a clear path to strong earnings growth from both its Retail and Wholesale businesses that will translate to robust cash flows with lower volatility. We are initiating coverage of AGU with an Outperform rating and $115 per share price target.” Agrium closed on Tuesday at $90.49.