Agrium cut to Hold at Stifel on lower potash, nitrogen prices

|About: Agrium Inc. (AGU)|By:, SA News Editor

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.