Stifel Nicolaus Raises Agrium (AGU) to Buy, Sets $100 Price Target

The red hot agriculture sector continues to push agriculture stocks up, and a number of upgrades have followed from several financial institutions. The latest is Stifel Nicolaus raising their rating on Agrium (NYSE:AGU) from "Hold" to "BUY."

Higher corn and soybean prices and the bid by BHP Billiton (NYSE:BHP) for Potash Corp (NYSE:POT) has been the driving force behind the surge in share prices in the sector.

Agrium closed Thursday at $87.15, gaining $0.29, or 0.33 percent.

Stifel raised their price target on the fertilizer company to $100.