Thursday, May 6, 2010

Potash (NYSE:POT) Upgraded by TD Newcrest

Potash Corp. of Saskatchewan (NYSE:POT) was upgraded by TD Newcrest from "Reduce" to "Hold," with a target price of $100 based on weakesses in the stock price recently.

TD Newcrest said, "We are upgrading Potash Corp. to HOLD based solely on recent stock price weakness, essentially approaching our target price. Our EPS estimates and fertilizer price forecasts are unchanged.

Potash sales for the company for 2010 are estimated by TD Newcrest to come in at 8 million tons, which coincides with the top end of guidance given by Potash Corp. executives, who are looking for 7.4 million to 8 million tons in their latest projections.

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