BofA downgraded CF Industries (CF) to Underperform from Neutral with an unchanged price target of $83. The firm believes the rally in global nitrogen prices is likely to lose momentum in the coming months, ultimately pushing earnings lower in 2025. BofA also argues that CF’s valuation “looks stretched” following a 25%-plus rally over the last three months, especially compared to peers Nutrien (NTR) and Mosaic (MOS).
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- CF Industries downgraded to Underperform from Neutral at BofA
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