Canaccord Genuity said it's maintaining its "Buy' rating on Agrium Inc. (NYSE:AGU), while raising it price target on the fertilizer company from $80 to $85.
"We continue to recommend Agrium due to the near-term upside related to the upcoming fall application season in the US, the increasingly positive fundamentals in the nitrogen sector, and the potential expansion in margins from AWB," said the Canaccord analyst.
AWB is the top fertilizer exporter in Australia, and is second in their domestic market.
Agrium has recently expressed interest in acquiring assets of Potash (NYSE:POT) if they're offered for sale if BHP Billiton (NYSE:BHP) takes them over.
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