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Fly News Breaks for December 19, 2018
CF
Dec 19, 2018 | 06:26 EDT
Stephens analyst Mark Connelly upgraded CF Industries to Overweight from Equal Weight and raised his price target for the shares to $60 from $55. The analyst expects "solid" nitrogen demand to keep CF volumes high, even if the cost curve is flatter. The stock at current levels is reflecting a flatter curve than is likely, which brings an improved risk/reward profile, Connelly tells investors in a research note. Further, he estimates CF's leverage will drop to a "comfortable" 2.4 times by year end. The company's free cash potential over the next two years can average greater than $5 per share, contends the analyst.
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