Agribusiness Stocks: Analysts’ Updated Ratings
With the earnings season behind us, it’s time to look at analysts’ updated ratings for some of the key agribusiness stocks. While some companies managed to beat market expectations, some companies were still a concern for investors.
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Except for Sociedad Quimica y Minera de Chile (SQM), which hasn’t released its earnings, all of the stocks in the above chart have announced their quarterly earnings. With most of the stocks trading lower than the levels before their respective earnings, the market had a muted reaction to the earnings. Among the agribusiness stocks, a few major fertilizer companies saw a target price upgrade due to the fertilizer industry’s (MOO) improved outlook.
In the above chart, Sociedad Quimica y Minera de Chile emerged as the top gainer. So far, it doubled the value of investments year-to-date, while FMC (FMC) returned 63%. So far, Mosiac emerged as the top loser with a loss of 22% on investments this year.
As we step into the coming quarter, we’ll look at analysts’ ratings and target price updates in November for eight major agribusiness companies including PotashCorp (POT), CF Industries (CF), and Monsanto (MON).
In the next part, we’ll start with PotashCorp.