January 24, 2017 / 5:49 PM / a year ago

BUZZ-Fertilizer Companies: Cowen and Co upgrades, raises PTs

** Fertilizer stocks up after Cowen and Co raises its view of the agriculture sector to “neutral” from “negative”

** CF Industries Holdings Inc up 3.4 pct, Mosaic Co 4.4 pct, Potash Corp of Saskatchewan 4.9 pct, Agrium Inc 3.6 pct

** “Our upgrades are based on the market reasonably discounting two of the three major drivers of ag equities: supply/demand fundamentals for the nutrients and the potential for further deterioration in grain prices” - Cowen and Co analysts

** However, brokerage also says farmer finances remain problematic and would be a drag on the sector

** Brokerage upgrades CF Industries, Potash Corp and Mosaic to “Market Perform” from “underperform”, Agrium to “outperform” from “market perform”

** PT Raises - Potash Corp raised to C$18 from C$15, Mosaic Co to $29 from $25, CF Industries to $31 from $25

** Biggest PT raise was for Agrium, raised to C$109 from C$93 (Reporting by Vishaka George in Bengaluru)

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