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Monday, Aug 5
Agrium cut to Hold at Stifel on lower potash, nitrogen prices
- Agrium (AGU -0.7%) is downgraded to Hold from Buy at Stifel Nicolaus, which also removes its $99 target price on the stock; in addition to lower potash prices, the firm believes AGU also will be negatively impacted by lower nitrogen prices in 2014.
- While AGU shares should benefit from the retail segment's contribution in Q2, the firm thinks lower fertilizer prices will negatively impact 2014 earnings in the wholesale segment.