CF Industries price target lowered to $104 from $119 at UBS

UBS analyst Joshua Spector lowered the firm’s price target on CF Industries to $104 from $119 but keeps a Buy rating on the shares as part of a broader research note titled "2023 Fertilizer Outlook". The price target cut reflects generally lower fertilizer pricing expectations, partially offset by lower natural gas input costs, the analyst tells investors in a research note. The firm adds however that the seasonal peak in demand in the spring will provide support to pricing and act as a positive catalyst.