Fertilizer giant Potash Corp. ( POT ) on Wednesday saw its price target and earnings estimates raised by analysts at UBS.
The firm said it now expects POT shares to reach $70, suggesting a 29% upside to the stock's Tuesday closing price of $54.15. UBS also boosted its earnings estimates and maintained its "Buy" rating, citing higher expected potash prices.
Potash shares were mostly flat in premarket trading Wednesday.
The Bottom Line
Shares of Potash Corp ( POT ) have a .52% dividend yield, based on last night's closing stock price of $54.15. The stock has technical support in the $45-$50 price area. If the shares can firm up, we see overhead resistance around the $60-$61 price levels.
Potash Corp. ( POT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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