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Potash Downgraded to “Market Perform” at Fraser Mackenzie; Shares Fully Valued after Recent Run (POT)

By Dividend.com,  July 06, 2012, 08:30:19 AM EDT

Fertilizer maker Potash Corp. ( POT ) on Friday caught a big downgrade from analysts at Fraser Mackenzie.

The firm said it cut its rating on POT from "Buy" to "Market Perform" with a $46 price target, suggesting zero upside to the stock's Thursday closing price of $45.50.

A Fraser Mackenzie analyst commented, "Improving market sentiment along with strengthening agricultural commodity prices have led to a surge in Potash shares. The stock is up 23% from a month ago tracing a similar move by major fertilizer peers and far outpacing North American indices…We continue to foresee a good year of earnings with EPS estimated at $3.40 at the midpoint of management guidance."

Potash shares posted modest losses in premarket trading Friday.

The Bottom Line
Potash currently offers a 1.23% dividend yield, based on last night's closing price of $45.50 and the company's annualized dividend payout of 56 cents per share.

Potash Corp. ( POT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: POT



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