Analysts at RBC Capital Markets maintain their "outperform" rating on Agrium Inc (AGU), while raising their estimates for the company. The target price has been raised from $115 to $140.
In a research note published this morning, the analysts mention that the robust crop price environment is expected to continue to result in strong demand for fertilizers. The upward revision in the target price reflects higher assumptions for fertilizer prices and for earnings from the retail business, the analysts add. The EPS estimates for 2008 and 2009 have been raised from $7.06 to $8.31 and from $8.43 to $10.91, respectively.
Friday, June 20, 2008
Agrium - target price raised
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