Miller Tabak Lowers Price Target on Agrium (AGU)

Miller Tabak reported on Tuesday that it has lowered its price target on agricultural company, Agrium Inc. (AGU).

The firm has reiterated a “Hold” rating on AGU, and has reduced the company’s price target from $104 to $101. This price target suggests that the stock remain flat at its current price of $99.28.

An analyst from the firm commented, “although our initial top-line Q1 estimate was below consensus, we are trimming our Q1 revenue assumption again to $3.55bn from $3.65bn or below consensus of $3.67bn. We now expect retail revenue to decline by 1-3% y/y vs. +2-4% previously. We note that a prolonged winter in Canada and late winter storms in the US corn-belt have pushed spring planting back by 2-4 weeks depending on locale. Furthermore, the magnitude of y/y linearity has been difficult to peg, due to a record early start last year and a head fake by Punxsutawney Phil this year.”

Agrium shares were mostly flat during premarket trading Tuesday. The stock has increased 15% in the past year.

The Bottom Line
Shares of Agrium Inc. (AGU) have a 1.01% yield, based on Monday’s closing price of $99.28.

Agrium Inc. (AGU) 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.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here