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On Monday, Cowen released a note on the possibility that fertilizer prices could rise. The possibility of a late start to fertilizer application, which would pressure logistics systems, may lead to “even higher” near term fertilizer prices.
Analyst Charles Neivert noted that fertilizer stocks typically perform “much more strongly” prior to spring fertilizer application.
Neivert upgraded Agrium
AGU, Potash
POT, and Rentech
RNF from Underperform to Market Perform.
Shares of Agrium, Potash, and Rentech are up 0.77, 0.53, and 0.9 percent respectively.
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