BUZZ-Agrium Inc: CIBC raises price target

Thu Jan 8, 2015 10:24am EST
 
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** Canadian fertilizer producer's shares up 2 pct at C$117.79; U.S.-listed shares up 2 pct at $99.61

** CIBC raises price target to $125 from $118; median price target $105 - Thomson Reuters data

** CIBC analysts expect agriculture and fertilizer stocks to outperform natural resource stocks in 2015, adding that agriculture fundamentals remain solid

** Analysts say improving forecast for U.S. agriculture reflects drought in South America, rising U.S. exports to Asia

** Agrium EPS expected to increase from $5.55 in 2014 to $7.54 in 2015 and $9 in 2016

** Up to Wednesday's close, company's Toronto-listed stock had risen 18 pct in past 12 months