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Fly News Breaks for October 2, 2018
CF
Oct 2, 2018 | 06:35 EDT
RBC Capital analyst Andrew Wong raised his price target on CF Industries to $50 ahead of its Q3 results, saying higher prices for nitrogen since the latter part of the quarter should boost expectations heading into "seasonal strength". The analyst believes that the current cost curve dynamic supports the price run-up, raising his medium term price outlook through 2022 to $275 per ton from $250 per ton. Wong also kept his Sector Perform rating on CF Industries, anticipating a pullback in nitrogen prices by mid-2019.
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