On October 2, CF Industries (CF) received a target price upgrade from UBS. The stock gained ~1.8% and rose to $55.8 during the day. CF Industries has benefited from higher nitrogen fertilizer prices and low natural gas costs in the United States (MOO), which served as a tailwind. These factors also hold true for companies like Nutrien (NTR), CVR Partners (UAN), and Mosaic (MOS).
UBS raised its target price on CF Industries to $62 from $58. CF Industries stock hit a three-year high at $55.7. Overall, the consensus target price for CF Industries stood at an average of $51.8, which was up from $49.5 in September. The median target price also increased to $52 from $50 a month ago. These target prices were almost 7% and 11% lower than the closing on October 2, respectively.
Currently, the consensus recommendation for CF Industries was a “hold” with a rating of 2.6, which remained unchanged from the previous month. One analyst continued to have a “strong buy” recommendation on the stock, while seven analysts had a “buy” recommendation on the company for the next 12 months. During the same period, ten analysts maintained a “hold” recommendation, while one analyst maintained a “sell” on the stock.
Next, we’ll discuss analysts’ ratings and target price for Mosaic.