Market Overview

UPDATE: Miller Tabak + Co. Reiterates on CF Industries on Mixed Factors


In a report published Thursday, Miller Tabak + Co. analyst Tim Tiberio reiterated a Sector Hold rating on CF Industries (NYSE: CF), and raised the price target from $230.00 to $245.00.

In the report, Miller Tabak + Co. noted, “We believe the market is responding positively to a confluence of statements/actions listed by CF today, including 1) Debt leverage will increase ($1.5bn offering planned for Q1:14), which in theory should support additional cash return potential beyond the $1.7bn remaining on its current buyback plan (+$2bn); 2) a MLP-structure is being openly studied for, at least, some of its new plant assets. We see this as a positive, albeit more speculative in nature and less of a near-term catalyst; and 3) CF announced the repurchase of 665k shares ($144.2mm) at an average price of $216.67/sh so far in Q4. Since the common view is that CF is very opportunistic in its buyback habits (rarely repurchases when N-T valuation is thought to be over extended), a $217/sh avg. price point suggests management's confidence in L-T valuation.”

CF Industries closed on Wednesday at $237.07.

Latest Ratings for CF

Oct 2019MaintainsHold
Sep 2019Initiates Coverage OnOverweight
Sep 2019MaintainsNeutral

View More Analyst Ratings for CF
View the Latest Analyst Ratings

Posted-In: Miller Tabak + Co. Tim TiberioAnalyst Color Price Target Analyst Ratings


Related Articles (CF)

View Comments and Join the Discussion!

Latest Ratings

ARCHBMO CapitalMaintains110.0
REZIBank of AmericaDowngrades
GOLFMorgan StanleyDowngrades27.0
VBTXRaymond JamesMaintains28.0
IRBTPiper JaffrayReiterates51.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

UPDATE: Deutsche Bank Reiterates on Brookdale Senior Living Following Model Update

UPDATE: Wedbush Upgrades Jack in the Box on Expected Upside Driven by Qdoba