CF Industries price target lowered to $81 from $88 at Scotiabank

Scotiabank lowered the firm’s price target on CF Industries (CF) to $81 from $88 and keeps an Underperform rating on the shares. Scotiabank is bearish on nitrogen in the near-term for a variety of reasons, including improved China/Iran export availability over the coming months and the withdrawal of Northern Hemisphere demand shortly, the analyst tells investors in a research note. The firm doesn’t see a valuation case to buy CF.