As previously reported. Scotiabank downgraded CF Industries (CF) to Underperform from Sector Perform with an unchanged price target of $88. JPMorgan this morning also downgraded the shares to Neutral. The stock in morning trading is down 5% to $90.11. The firm says its conviction is growing that nitrogen margins will come under pressure soon. It sees potential share downside of 20% in the near-term. China will open urea export floodgates soon, Iranian exports will return shortly, and the timely Indian market support will end shortly, the analyst tells investors in a research note. Scotiabank sees these as reasons to short shares of CF.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CF:
- CF Industries downgraded to Underperform from Sector Perform at Scotiabank
- CF Industries downgraded to Underweight from Neutral at JPMorgan
- CF Industries downgraded to Equal Weight from Overweight at Barclays
- CF Industries downgraded to Sector Perform from Outperform at RBC Capital
- Early notable gainers among liquid option names on January 13th