Potash Upgraded to “Overweight” at JPMorgan (POT)

Filed in bhp billiton, dividend, Gold Investment, o, potash corp, shares, upgrade by on November 22, 2010 0 Comments

Fertilizer giant Potash Corp. ( POT ) on Monday saw its rating and price target boosted by analysts at JPMorgan. The firm said it upgraded POT from “Neutral” to “Overweight,” while raising its price target to $155 all the way up from $109. That new target implies an 11% upside to the stock’s Friday closing price of $140.25. JPMorgan had previously restricted its coverage on POT following the recent hostile bid for the company from BHP Billiton ( BHP ). Potash shares were mostly flat in premarket trading Monday. The Bottom Line Shares of Potash Corp ( POT ) have a .29% dividend yield, based on Friday’s closing stock price of $140.25. The stock has technical support in the $134 price area. If the shares can firm up, we see overhead resistance around the $145-$150 price levels. Potash Corp. ( POT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

Potash Upgraded to “Overweight” at JPMorgan (POT)

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