Even as shares of Potash Corp. of Saskatchewan Inc. are plummeting today, falling by more than 4% to under $158 in mid-afternoon trading, RBC Capital is expecting the stock to more than double to $375 as Chinese potash buyers begin negotiations for a pricey new contract in Seattle, Wash.
Analysts Fai Lee and Owen Martin say in a research note that Potash Corp, one of the world's largest potash producers, is currently trading at a flat realized potash price of US$430 per tonne (about US$530 per tonne delivered), but RBC believes this is far below market prices which range between US$900 and $US1,100 per tonne....MORE
Thursday, September 4, 2008
As Potash Corp. shares plummet, RBC predicts stock will double (POT)
From the Financial Post:
