On Wednesday analysts at Goldman Sachs resumed coveraged on fertilizer manufacturer CF Industries Holdings, Inc. (CF) with a “Sell” rating as they believe its nitrogen boom has peaked.
The analysts give CF a “Sell” rating with a price target of $204. The new target is a -6% downside from Tuesday’s closing price of $217.22.
An analyst at Goldman Sachs commented, “We believe that the transformational impact of shale gas for North American Nitrogen producers is now well understood and that 2012 marked a peak for CF fundamentals. We see 14% downside to 2013 consensus EPS from a combination of lower ammonia/urea prices and higher natural gas costs.”
CF Industries shares were down $1.63, or -0.75%, in premarket trading on Wednesday.
The Bottom Line
Shares of CF Industries (CF) have a .74% dividend yield, based on last night’s closing stock price of $217.22. The stock has technical support in the $195-$200 price area. The stock is trading near the all-time highs of $224-$225 a share.
CF Industries Holdings, Inc. (CF) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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