Citigroup said that its conversations with Agrium's (NYSE:AGU) management confirmed its view that this year's fall fertilizer application could be very strong, and if the weather cooperates, application could surpass last year's fall season.
The bank sees 2011 EPS of $9.26 and 2012 EPS of $9.98. It maintained its hold rating and $100 price target on the stock.
Shares of the company are trading 2.75% lower at $72.59.
Agrium has a potential upside of 50.2% based on a current price of $72.6 and an average consensus analyst price target of $109.02.
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