- Potash Corp. (POT +2.4%) is upgraded to Overweight from Neutral with a $40 target price, raised from $34, at J.P. Morgan, citing more favorable potash industry fundamentals and the company's declining investment spending.
- The firm expects POT to generate a 6.3% free cash flow yield in 2015 and a 7.1% free cash flow yield in 2016, as POT currently pays a 4% dividend.
- U.S. potash inventories are now 35% below their five year average, the firm says.