CF Industries, Nutrien bumped to Buy at BAML
Nov. 25, 2019 1:57 PM ETCF Industries Holdings, Inc. (CF), NTR, NTR:CACF, NTRBy: Carl Surran, SA News Editor2 Comments
- Fertilizer names CF Industries (CF +3%) and Nutrien (NTR +1.8%) move higher after BofA Merrill Lynch upgrades both to Buy from Neutral, with respective stock price targets of $56 and $54, as the firm foresees a price inflection by spring in all three major nutrients after a year of lower fertilizer prices.
- BAML analyst Steve Byrne believes strong demand in North America, Brazil and India should facilitate quick drawdowns and increased purchasing despite high phosphate and potash inventories, while limited capacity expansions and lower global exports also tighten the market.
- CF's average Sell Side Rating and Seeking Alpha Authors' Rating are both Bullish, while its Quant Rating is Neutral.
- Also, NTR's average Sell Side Rating and Seeking Alpha Authors' Rating are Bullish, and its Quant Rating is Neutral.