Potash cut to Neutral at J.P. Morgan in valuation call

|About: Potash Corporation of Saska... (POT)|By:, SA News Editor

Potash (POT -0.7%) is downgraded to Neutral from Overweight at J.P. Morgan, citing valuation with shares near the firm's unchanged price target of $38.

JPM believes falling crop prices in anticipation of high domestic corn and soybean supplies could weigh on POT shares.

The firm prefers Mosaic (MOS -0.9%), as it has a lower valuation than POT and it is more exposed to increases in potash prices as it produces similar tonnage to POT with less than half the number of outstanding shares.