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Agribusiness Stocks: November Post-Earnings Update

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Part 5
Agribusiness Stocks: November Post-Earnings Update PART 5 OF 9

CF Industries Received Several Target Price Upgrades

CF Industries’ earnings

CF Industries (CF) released its earnings on November 1, 2017. It reported an EPS (earnings per share) of -$0.37. On an adjusted basis, the company reported an EPS of -$0.39, which was better than analysts’ estimated EPS of -$0.54 for the quarter. The better-than-expected report lifted the stock after its earnings. As of November 10, the company’s stock was almost 2% lower than its pre-earnings level.

To learn more about CF Industries’ 3Q17 quarterly earnings, read CF Industries’ 3Q17 Earnings and the Market’s Reaction.

CF Industries Received Several Target Price Upgrades

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Analysts’ ratings

As of November 10, the consensus mean rating of 17 analysts for CF Industries stood at 2.6 with an overall “hold” recommendation for the next 12-month period. The rating remained unchanged from October.

In the above chart, you can see that analysts’ recommendations at each level also remained largely unchanged month-over-month. In the current month, two analysts have a “strong buy” recommendation on the stock, while four maintained their “buy” recommendation.

Most of the analysts continue to have a “hold” recommendation on the stock with a total of ten analysts—unchanged from last month. As a result, only one analyst has a “sell” recommendation on CF Industries, while none recommend a “strong sell” recommendation on the stock.

Target price

The current consensus mean target price for CF Industries stood at $36.5, which rose from $33.4 in our October update. Unlike PotashCorp (POT), Mosaic (MOS), and Agrium (AGU), CF Industries closed above its target price at $37.3 on November 10.

Following CF Industries’ earnings, Credit Suisse raised its target price to $37 from $34 with a “neutral” rating. RBC raised its target price to $32 from $27. JPMorgan Chase raised its target price to $35 from $25, while Piper Jaffray raised its target price to $33 from $28. Among these firms (MOO), Citigroup and BMO were the most bullish on CF Industries with a target price of $44 and $43, respectively.

In the next part, we’ll discuss analysts’ ratings for Monsanto (MON).

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