CF Industries downgraded at Piper Jaffray as nutrient pricing weighs

|About: CF Industries Holdings, Inc. (CF)|By:, SA News Editor

CF Industries (CF +0.2%) is downgraded to Neutral from Overweight with a $34 price target, cut from $40, at Piper Jaffray, which cites challenges including volatile commodity prices, cyclical business environment, competition and government and environmental regulation.

The firm believes nutrient pricing will be under pressure following the spring demand season and sees additional risk to pricing through the rest of the year, with increased production coming online in North America.

Even with the potential opportunity for share buybacks, Piper does not foresee incremental stock buyers if nitrogen fertilizer prices are not going up.

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