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POT

Potash

$19.24

0.08 (0.42%)

, AGU

Agrium

$107.73

0.55 (0.51%)

17:37
10/18/17
10/18
17:37
10/18/17
17:37

Potash, Agrium: India approves proposed merger of equals transaction

Potash Corporation of Saskatchewan (POT) and Agrium (AGU) announced that India has approved their proposed merger of equals transaction. An Indian appellate court has approved a settlement reached between the merger parties and the Competition Commission of India and has directed the CCI to issue a clearance order. The CCI's approval will be conditioned on the parties' commitment to divest PotashCorp's minority shareholdings in Arab Potash Company, Israel Chemicals, Ltd. and Sociedad Quimica y Minera de Chile S.A. within a period of 18 months from the issuance of the order. The companies are permitted to consummate the merger prior to the divestments. The companies previously received unconditional clearance for the merger in Canada, Brazil and Russia. The regulatory review and approval process continues in the U.S. and China and the parties expect to close the transaction by the end of the fourth quarter of 2017. Upon closing the merger transaction, the new company will be named Nutrien. As the largest global provider of crop inputs and services, Nutrien will play a critical role in "Feeding the Future" by helping growers to increase food production in a sustainable manner.

POT

Potash

$19.24

0.08 (0.42%)

AGU

Agrium

$107.73

0.55 (0.51%)

POT Potash
$19.24

0.08 (0.42%)

09/12/17
OTRG
09/12/17
UPGRADE
OTRG
Mixed
Fertilizer sector upgraded to Mixed from Negative at OTR Global
OTR Global changed its views on the Fertilizer sector to Mixed from Negative following checks that indicate US dealers have taken advantage of attractive summer prices to maintain or increase positions in most nutrients year-over-year. The firm's view on potash and phosphate producers, Agrium (AGU), Mosaic (MOS) and Potash (POT), and nitrogen producers Agrium (AGU) and CF Industries (CF) improved to mixed.
09/28/17
TDSI
09/28/17
UPGRADE
Target $24
TDSI
Buy
Potash upgraded to Buy from Hold at TD Securities
TD Securities analyst Greg Barnes upgraded Potash (POT) to Buy and increased its price target to $24 from $17.50 saying the merger with Agrium (AGU) will likely be completed in late Q4. Barnes expects Agrium will have to divest two US based plants with approximately 170,000 tpa capacity and Chinese and Indian regulators are requesting Potash divest minority ownership of certain assets as a condition of approval. The analyst said the growth capex cycle is behind Nutrien, the combined company, and expects ongoing sustained capex of $1.3B per year and $3.17 per share in free cash flow. Barnes views Nutrien risk/reward as compelling with a pro forma price target of $60 for the combined company.
10/06/17
BMOC
10/06/17
NO CHANGE
Target $50
BMOC
Outperform
Higher urea and potash prices to benefit fertilizers, says BMO Capital
BMO Capital analyst Joel Jackson issued a quarterly preview on the Fertilizer segment, raising Q4 and FY18 estimates on higher urea and potash prices through spring. His model cites expectations of some demand growth, a higher cost curve in China and a rebound in demand from India. As part of his broader research note, Jackson is raising price targets on CF Industries (CF) to $38 from $35, SQM (SQM) to $50 from $45, and Potash (POT) to $17.50 from $17.00.
10/11/17
HSBC
10/11/17
INITIATION
Target $24.25
HSBC
Buy
Potash initiated with a Buy at HSBC
HSBC analyst Alex Falcao initiated Potash with a Buy and $24.25 price target. The analyst thinks Potash's valuation does not reflect firming potash prices and believes concerns about supply pressure on potash prices is unwarranted.
AGU Agrium
$107.73

0.55 (0.51%)

07/25/17
COWN
07/25/17
NO CHANGE
COWN
Short term buying opportunity for fertilizers is over, says Cowen
Cowen analyst Charles Neivert said the short-term buying opportunity on fertilizer shares is over as sentiment around yield destruction drove grain prices higher and fertilizer prices higher as well. He believes the worst is behind the market and valuation will return to being driven by supply/demand challenges. Fertilizer stocks include Potash (POT), Agrium (AGU) and Mosaic (MOS).
09/28/17
TDSI
09/28/17
UPGRADE
Target $134
TDSI
Buy
Agrium upgraded to Buy from Hold at TD Securities
TD Securities analyst Greg Barnes upgraded Agrium (AGU) to Buy and increased its price target to $134 from $102 saying the merger with Potash (POT) will likely be completed in late Q4. Barnes expects Agrium will have to divest two US based plants with approximately 170,000 tpa capacity and Chinese and Indian regulators are requesting Potash divest minority ownership of certain assets as a condition of approval. The analyst said the growth capex cycle is behind Nutrien, the combined company, and expects ongoing sustained capex of $1.3B per year and $3.17 per share in free cash flow. Barnes views Nutrien risk/reward as compelling with a pro forma price target of $60 for the combined company.
10/11/17
HSBC
10/11/17
INITIATION
Target $126.5
HSBC
Buy
Agrium initiated with a Buy at HSBC
HSBC analyst Alex Falcao initiated Agrium with a Buy and $126.50 price target telling investors it is a well managed business and the retail division has multiple growth opportunities. The analyst expects store optimization presents further cost saving opportunities.

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$NSD

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GES

Guess

$17.94

0.16 (0.90%)

16:17
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Earnings
Guess sees Q4 adjusted EPS 48c-55c, consensus 52c »

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GES

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$17.94

0.16 (0.90%)

16:16
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AVA

Avista

$51.64

-0.19 (-0.37%)

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AXTA

Axalta Coating

$33.85

0.31 (0.92%)

, AKZOY

AkzoNobel

$30.57

0.085 (0.28%)

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Periodicals
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Axalta Coating

$33.85

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AkzoNobel

$30.57

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CRM

Salesforce

$108.48

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HP Inc.

$22.45

0.33 (1.49%)

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HPE

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$14.15

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GME

GameStop

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CRM

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QADB

QAD Inc

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CRM

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$108.60

1.24 (1.16%)

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HPE

HP Enterprise

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QADB

QAD Inc

$31.74

1.74 (5.80%)

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HPQ

HP Inc.

$22.45

0.33 (1.49%)

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