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Fly News Breaks for July 29, 2015
POT
Jul 29, 2015 | 07:44 EDT
Raymond James downgraded Potash to Market Perform and lowered its price target to $30 from $36. The firm is concerned about 2H global potash fundamentals given weak crop prices and macro issues that exacerbate Brazilian demand issues, improved supply availability from Russia, and slow demand in North America compounded by increased offshore imports. Additionally, the Raymond James sees increased uncertainty from Potash's pursuit of K&S and escalating free-cash-flow risk.
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