Monday, November 22, 2010

JPMorgan (NYSE:JPM) Upgrades Potash (NYSE:POT) on Corn Prices

A number of upgrades and price targets were raised in the agricultural sector today, as the idea corn prices at $5 a bushel is sustainable remains the consensus at this time. JPMorgan (NYSE:JPM) upgraded Potash (NYSE:POT) as a result, from "Neutral" to "Overweight."

Potash has continued to hold its share price, even after the failed bid of BHP Billiton (NYSE:BHP) for them.

Coverage on Potash was restricted by JPMorgan on them after the announcement BHP was no longer pursuing the company.

Potash was trading at $140.46, gaining $0.21, or 0.15 percent at 12:24 PM EST. JPMorgan raised their price target on the company from $109 to $155.

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