CF Industries price target raised to $79 from $77 at Piper Sandler

Piper Sandler analyst Charles Neivert raised the firm’s price target on CF Industries (CF) to $79 from $77 and keeps an Underweight rating on the shares following Q3 results. While CF shares may have benefited from Middle East tensions and China’s near total pullback from nitrogen export markets, the firm sees underlying fundamentals as unsupportive of the current price level and the issues underpinning the current nitrogen price environment as unsustainable, Piper told investors in a research note.