CF Industries price target lowered to $70 from $75 at Credit Suisse

Credit Suisse analyst Edlain Rodriguez lowered the firm’s price target on CF Industries to $70 from $75 and keeps an Underperform rating on the shares following quarterly results. The firm notes that while grain fundamentals remain solid, they are not providing near-term support for fertilizer prices. Credit Suisse’s recent update noted that channel inventories remain high, and lower prices may be needed to incentivize demand. Nitrogen prices remain under pressure on lower natural gas prices in Europe, and buyers delaying in anticipation of lower prices, the firm adds.