RBC Capital Remains a Buy on Potash Corp

By Carrie Williams

In a report issued on July 27, Andrew Wong from RBC Capital reiterated a Buy rating on Potash Corp (NYSE: POT), with a price target of $19. The company’s shares closed yesterday at $17.82.

According to TipRanks.com, Wong is a 3-star analyst with an average return of 12.2% and a 100.0% success rate. Wong covers the Consumer Goods sector, focusing on stocks such as CF Industries, Mosaic Co, and Agrium.

Potash Corp has an analyst consensus of Moderate Buy, with a price target consensus of $17.75.

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.