Shares of agricultural fertilizer maker CF Industries Holdings, Inc. (NYSE: CF) was trading almost 1.1% down in the pre-market session on Thursday after closing 1.2% higher on Wednesday at $101.01. The rise on Wednesday came after two days of decline.
Fertilizer manufacturing companies have been hit hard by the Russia-Ukraine crisis, which has put fertilizer supply across the world at risk with prices reaching record highs.
Illinois-based CF Industries manufactures and sells nitrogen fertilizers. It owns and operates nitrogen plants and serves agricultural and industrial customers through its distribution system. The company is scheduled to release its first-quarter results next week.
Wall Street’s Take
In a research note to investors, the analyst said, “The Russia-Ukraine conflict has caused fertilizer prices to spike on supply concerns in already tight markets.”
Overall, the stock has a Moderate Buy consensus rating based on five Buys and nine Holds. CF Industries Holdings’ average price target of $96.23 implies 4.7% downside potential. Shares have gained 127.2% over the past year.
TipRanks data shows that financial blogger opinions are 86% Bullish on CF, compared to the sector average of 76%.
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