What Are Analysts’ Recommendations for PotashCorp?
PotashCorp (POT) is one of the safer bets in the agricultural fertilizer space. Global population is on the rise, and thus the demand for food. Fertilizer companies (MXI) like CF Industries (CF), Intrepid Potash (IPI), and Israel Chemicals (ICL) have helped meet this demand by increasing crop yields.
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Most analysts currently have a “hold” recommendation for PotashCorp. Six analysts recommend a “buy” to “strong buy” for the next 12 months, while three analysts have a “sell” rating on PotashCorp, according to a Reuters survey.
On December 1, PotashCorp was trading at ~$18.20 per share. However, according to 21 analysts surveyed by Reuters, the median price target for PotashCorp over the next 12 months stood at $17, which is about 6.5% below the current market price.
It’s important for investors to track the prices of fertilizers each week to stay updated in regards to the direction of the fertilizer industry. Each week Market Realist publishes price updates for fertilizers. You can read the latest one at How Fertilizer Stocks Performed in Week Ended November 25.