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Fly News Breaks for January 23, 2020
Jan 23, 2020 | 06:13 EDT
Stephens analyst Mark Connelly downgraded CF Industries to Equal Weight from Overweight with a price target of $50, down from $60. The analyst reduced his estimates to reflect the decline in nitrogen prices. With "difficult" fall application conditions, he expects weak volumes and notes the company's comparisons will be challenging. Further, Connelly sees "no clear catalyst" for the shares from trade or political unrest.