CF Industries price target raised to $83 from $76 at BofA

BofA raised the firm’s price target on CF Industries to $83 from $76 and keeps a Neutral rating on the shares. Historically, when growers see sharp declines in crop commodity prices, the firm has observed nitrogen purchasing patterns get deferred, which it believes could occur in coming months, adding that such deferrals are normally associated with price declines. Given these near-term concerns, the firm reiterates its Neutral rating with a price target reflecting higher 2024 forecasts.