Information Provided By:
Fly News Breaks for January 29, 2016
POT
Jan 29, 2016 | 08:02 EDT
Scotiabank analyst Carl Chen upgraded Potash to Outperform and said its time for shorts to cover. The analyst continues to see a supply/demand gap, with pricing falling toward marginal cost in 2017, views the 34% dividend cut as insufficient beyond 2016, and flexibility now limited for M&A and or buybacks. However, the Chen said when Potash "kitchen sinks" its own outlook, and the market doesn't care, even the bears have to take notice. Chen is now comfortable with a "tactical long position" as almost all negative catalysts through the summer are now reflected in Potash's valuation and expects demand to re-emerge slowly. The analyst lowered his price target to $18 from $24 on shares.
News For POT From the Last 2 Days
There are no results for your query POT