RBC Capital analyst Andrew Wong lowered the firm’s price target on CF Industries to $125 from $130 but keeps an Outperform rating on the shares. The analyst notes that early-season nitrogen markets have disappointed with slow demand and weaker-than-expected prices, but the firm expects a moderate rebound into the Northern Hemisphere spring season. RBC Capital added that it stills sees a constructive long-term outlook CF Industries as solid nitrogen fundamentals and strong execution continue to drive its outsized cash generation.
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