BUZZ-K+S: Cuts outlook on weak potash demand

Wed Nov 11, 2015 4:50am EST
 
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** German potash miner's shares down 2.6 pct after it cut its outlook

** Cuts the upper end of its FY earnings forecast range as lower crop prices and a weak Brazilian real weighs

** Says positive price and currency effects in the Salt business unit were able to more than offset declining sales volumes in the potash and magnesium products business unit during Q3

** K+S has lost 1/4th of its value since it fended off a buyout approach by Potash Corp in Oct, saying the offer was too low and refused to negotiate

** Brokerage Liberum says potash prices have dropped 15 pct in 2015 and that it expects further downside pressure in 2016-2017

** 14 of 29 brokerages rate the stock "buy" or higher, 9 rate "hold" and 6 rate "sell" or lower; their median PT is 27.00 euros

** Stock worst performer on German blue-chip index DAX (RM: bartosz.dabrowski.thomsonreuters.com@reuters.net; RM: daria.kowalewska.thomsonreuters.com@reuters.net)