Canaccord Doesn't See Upside For Potash Going Forward

Following the company's second quarter results, Canaccord analyst Keith Carpenter maintained a Hold rating on Potash Corp. POT, but increased his price target from $33 to $34

Despite noting that Potash posted above consensus EPS results in the second quarter and increased its 2014 EPS guidance to $1.70 - $1.90, he sees little chance for an upside surprise moving forward.

Carpenter commented, "Going forward, we believe the oversupply situation that exists in the market will become worse as projects that are currently being built out enter production in the coming years."