| 2016-10-10 07:56:13|
POT, AGU 07:56 10/10 10/10/16
Potash upgraded on merger at RBC Capital
As noted on Friday, RBC Capital upgraded Potash (POT) to Outperform from Sector Perform. RBC Capital analyst Andrew Wong says that the estimated synergies of the Agrium (AGU)/Potash merger are "compelling." Wong calls the synergies "ambitious but achievable," and adds that the strategic benefits of the deal are "just as important as synergies." He thinks that the benefits of the deal "outweigh potential risks related to changing potash exposure." Target to $19 from $15.