CF Industries outlook for Nitrogen is upbeat, says Susquehanna Susquehanna believes CF Industries earnings comments were bullish citing expectations for an improving corn market, higher Nitrogen pricing, and improving price momentum on urea. Shares are Positive rated with a $300 price target.
News For CF From The Last 14 Days
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On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Celgene (CELG) upgraded to Buy from Neutral at UBS... CF Industries (CF) upgraded to Neutral from Sell at Goldman... Kohlís (KSS) upgraded to Buy from Neutral at BofA/Merrill... Spirit AeroSystems (SPR) upgraded to buy from Hold at Canaccord... Tiffany (TIF) upgraded to Conviction Buy from Neutral at Goldman... Union Pacific (UNP) upgraded to Strong Buy from Outperform at Raymond James... CVR Energy (CVI) upgraded to Neutral from Underperform at Macquarie... Alon USA Energy (ALJ) upgraded to Neutral from Underperform at Macquarie... Valero Energy (VLO) upgraded to Outperform from Neutral at Macquarie... Marathon Petroleum (MPC) upgraded to Outperform from Neutral at Macquarie... Smith & Wesson (SWHC) upgraded to Buy from Hold at Lake Street... Open Text (OTEX) upgraded to Neutral from Negative at Susquehanna... Sprint (S) upgraded to Buy from Neutral at Nomura... Halcon Resources (HK) upgraded at Morgan Stanley.
CF Industries says intends to raise up to $1.5B in long-term debt in early 2014 Says in discussions with financial advisors to evaluate MLP and MLP-like structures along with other financing options. Says capacity expansion program remains on schedule, on budget. Capital deployment priorities include: Maintaining investment grade credit ratings, accretive acquisitions, share repurchase. Says will continue to evaluate increasing dividend over time. Comments from slides that will be presented at Citiís 6th Annual Basic Materials Symposium.