Markets

Analyst Actions: RBC Upgrades Agrium to Outperform; Stock up 0.6%

RBC Dominion Securities upgraded Agrium Inc. (AGU.TO, AGU) today to outperform from sector perform.

This follows several analysts earlier this week hiking their price targets on Agrium because of the fertilizer producer raising its guidance for the first half of this year by 15%.

Agrium is expected to profit from the drought conditions in the US Midwest, which has caused grain prices to soar and has spurred farmers to plant more and use more fertilizer. The company reports second-quarter results Aug. 2.

The median price target on the stock is $105, according to Thomson/First Call. RBC joins a group of very bullish analysts. Of 22 analysts who follow Agrium, 15 rate it as a strong buy, one as a buy and six as a hold, according to Zacks Investment Research. No one is recommending selling.

Shares are up 0.6% at $96.67.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Commodities

Latest Markets Videos