Stifel Nicolaus Reaffirms Their Buy Rating on Potash Corp

By Jason Carr

In a report released yesterday, Paul Forward from Stifel Nicolaus reiterated a Buy rating on Potash Corp (NYSE: POT), with a price target of $20.50. The company’s shares opened today at $18.33.

According to TipRanks.com, Forward is ranked 0 out of 5 stars with an average return of -9.6% and a 43.2% success rate. Forward covers the Basic Materials sector, focusing on stocks such as Peabody Energy Corporation Comm, Rhino Resource Partners LP, and Cloud Peak Energy Inc.

Currently, the analyst consensus on Potash Corp is Moderate Buy and the average price target is $18.13, representing a -1.1% downside.

In a report issued on August 29, RBC Capital also reiterated a Buy rating on the stock with a $19 price target.

Based on Potash Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.12 billion and quarterly net profit of $201 million. In comparison, last year the company earned revenue of $1.05 billion and had a net profit of $121 million.

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Potash Corp. of Saskatchewan, Inc. is a fertilizer company, which produces crop nutrients, including potash, phosphate and nitrogen. The company operates through three business segments: Potash, Phosphate and Nitrogen. The Potash segment includes mineral deposits left by ancient evaporated seas and is used as a crop nutrient.