Archives for Rating Changes

Citi Downgrades CF Industries Holdings to Neutral

Analysts at Citi downgraded shares of CF Industries Holdings (CF) to Neutral from Buy citing valuation and limited near term catalysts. The price target on CF was retained at $ “there are risks of a softer urea market in 2H14 on higher China exports and potential for lower grain prices if a record crop develops. Plus (see Figure 1), CF’s multiple has risen to ~14x, back toward pre- “shale supremacy” levels. We see balanced risk/reward here and recommend investors stay on the sidelines for now.” Citi said in a note to clients “Global urea markets have weakened outside of the US since late February and now appear to have reversed the rebound which started late last summer. Part of this move could be seasonal. Supply uncertainty in China could increasingly pressure the market as seasonally exports should be much higher in 2H14 with lower tariffs.” it added Shares of CF Industries Holdings (CF) were trading lower by 1 percent at $ in early morning trade.
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Brean Capital Initiates Coverage on First Solar at Buy

Research analysts at Brean Capital Initiated Coverage on First Solar, Inc (FSLR) with a Buy rating and set a price target of $83, suggesting 20 percent upside from current levels. “Given the company’s solid balance sheet, increasing cash flow generation, strong growth potential, and ability to leverage its product platforms, we believe First Solar has many advantages over its peers. We regard the stock as a must-have for solar portfolios, and worth consideration for long-term investors who seek above-average growth and have the patience to navigate the potential ups and downs of a maturing market.” Brean Capital said in a note to clients “We consider First Solar the premier market participant in the solar industry, given its breadth of vertical integration, financial strength, and ability to adapt to changing end-market conditions while continuing to innovate its product and service offerings.” it added Shares of First Solar, Inc (FSLR) closed at $ on Monday.
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