Agrium (NYSE: AGU) received a number of price target changes and ratings updates during the last week:
- Agrium had its price target lowered by analysts at Citigroup from $120.00 to $115.00. They now have a “buy” rating on the stock.
- Agrium had its price target lowered by analysts at UBS AG from $123.00 to $120.00. They now have a “buy” rating on the stock.
- Agrium had its price target lowered by analysts at Canaccord Genuity from $129.00 to $127.00. They now have a “buy” rating on the stock. They wrote, “We expect a strong US spring planting season to benefit the retail division and the nitrogen segment. In addition, we believe the potential exists for an early spring and the resulting increase in urea pricing as a result of logistical constraints on imported product. We believe earnings should perform well through the spring due to our positive fundamental view. There’s a catch though – if Jana (Agrium’s largest shareholder at 7.5% ownership) is successful in electing its slate of directors to Agrium’s board at the April 9 AGM, then that would state that a majority of shareholders voted them in and those shareholders likely believe that greater efficiencies or a potential sale/break-up of the company is forthcoming, and the share price should continue to increase post that election on that basis as well.”
- Agrium had its “sector outperform” rating reaffirmed by analysts at CIBC. They now have a $130.00 price target on the stock.
- Agrium had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $110.00 price target on the stock.
- Agrium had its “sector perform” rating reaffirmed by analysts at Scotiabank. They now have a $120.00 price target on the stock.
Agrium opened at 103.52 on Wednesday. Agrium has a 1-year low of $74.28 and a 1-year high of $115.31. The stock’s 50-day moving average is currently $109.2. The company has a market cap of $15.424 billion and a price-to-earnings ratio of 10.75.
Agrium Inc. (Agrium), is a global producer and marketer of nutrients for agricultural and industrial markets.
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