PREMIUM SEARCH Search by job title, geography and build a list of executive contacts
Salomon Smith Barney upgraded Potash Corp. (POT
) to in-line from underperform.
Analyst David Driscoll says his bullish view on Potash and the fertilizer sector is due to the expectation of improving volumes and margins owing to very tight global grain inventories, as well as improving utilization rates for nitrogen and phosphates. He believes Potash's phosphate margins will expand based on continued firm product prices and a decline in raw material costs beginning in mid 2003.
Also, he thinks Potash's nitrogen margins should expand due to value of its natural gas hedges. Driscoll raised the 2003 earnings per share estimate to $2.50, and upped the 2004 estimate to $3.15. He raised the target to $67.
Any advice, analysis, or recommendations contained in articles labeled "Insight from Standard & Poor's" reflect the views of Standard & Poor's, which operates separately from and independently of BusinessWeek Online. It is possible that BWOL may from time to time publish information that is not consistent with advice, analysis, or recommendations that are published by Standard & Poor's. Standard & Poor's and BusinessWeek Online are each units of The McGraw-Hill Companies, Inc.
Get BusinessWeek directly on your desktop with our RSS feeds.
Add BusinessWeek news to your Web site with our headline feed.
Click to buy an e-print or reprint of a BusinessWeek or BusinessWeek Online story or video.
To subscribe online to BusinessWeek magazine, please click here.
Copyright 2003, by The McGraw-Hill Companies Inc. All rights reserved.
Printer-Friendly Version
