LSB Industries price target lowered to $11.50 from $12.50 at Piper Sandler

Piper Sandler analyst Charles Neivert lowered the firm’s price target on LSB Industries to $11.50 from $12.50 and keeps a Neutral rating on the shares following channel checks on the fertilizer products and global grain markets. The firm sees fertilizer prices rising during 2024, but the gains may be modest as grain prices will tend to restrain the upside, the analyst tells investors in a research note. At the same time, fertilizer supply is not expected to see a significant increase and should not force pricing lower on a longer S/D balance.