CF Industries price target lowered to $98 from $101 at Wells Fargo

Wells Fargo lowered the firm’s price target on CF Industries to $98 from $101 and keeps an Overweight rating on the shares. The firm sees strong nitrogen fundamentals supporting prices, cash flow and buybacks over the next 12 months. Waggaman will be accretive to Wells’ estimates in 2024, with CF’s clean energy pipeline continuing to progress.