- Upcoming seasonal pressure and an end to share repurchases have hindered Potash's shares. We remain bullish on the long-term outlook and see the lower $30s as an excellent entry price.
- POT's balance sheet is rock solid and leverage is low. An improving cost structure and lower capital expenditures will insure adequate cash flow for dividends and potential buybacks.
- While concerns around supply and demand remain, we believe POT can flourish in a low-price environment providing a solid dividend and growth investment.