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Fly News Breaks for February 21, 2020
Feb 21, 2020 | 07:26 EDT
JPMorgan analyst Jeffrey Zekauskas upgraded CF Industries to Overweight from Neutral with a price target of $44, down from $46. CF shares are now priced well for the patient investor, Zekauskas tells investors in a research note. The shares have fallen 17% year-to-date and are almost 40% lower over a five-year period in a market 60% higher, the analyst points out. He says CF is the large low-cost global producer of nitrogen fertilizer because its primary feedstock is U.S. natural gas. Zekauskas thinks the company should generate a "sustainable" 10% free cash flow yield and a 3% dividend yield.
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