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Analyst Actions: Potash Corp Upgraded To Sector Outperformer at Scotia Capital

Analyst Ben Isaacson at Scotia Capital upgraded Potash Corp (POT.TO) from Sector Perform to Sector Outperform. He has a price target of US$66 a share on the company, well above the US$53.30 it is trading at early Tuesday afternoon.

"We downgraded Potash Corp. to Sector perform less than one month ago, based on valuation only," Mr. Isaacson said in a note, according to a Financial Post report. "At the time, we stated Our view is unchanged that POT should outperform all other fertilizer equities over the long-term and potash prices should develop more positively than both nitrogen and phosphate.' We still maintain this view."

He reportedly added that the previous Potash Corp. downgrade had nothing to do with fundamentals. The company's stock is currently valued at 11 times 2012 estimated earnings per share.

"We suggest investors aggressively take advantage of this opportunity to add to their Potash Corp. positions, based on the stock's recent underperformance relative to its North American peers," Isaacson reportedly said

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

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

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