Potash (NYSE:POT) Price Target Raised on Increased Fertilizer Outlook

Analysts' Upgrades, Downgrades

Barclays (NYSE:BCS) said their maintaining their "Overweight" rating on Potash Corp. (NYSE:POT), citing an expected increase in production of potash, along with price increased for phosphate and nitrogen.

"Earlier this week we re-instated our rating on Potash Corporation after being restricted on the company since August 17. We had the opportunity to revise our model so as to reflect the changes that have occurred in the fertilizer industry since we have been restricted and incorporate new company guidance...We have incorporated our new fertilizer price deck and recent company guidance into our model. Specifically, in addition to the price increase in nitrogen and phosphate, we have increased our potash production outlook for 2010 and 2011 and have also re-valued POT's equity portfolio based on previous day closing prices," Barclays said.

Potash was trading at $136.00, gaining $1.37, or 1.02 percent at 2:02 PM EST. Barclays increased their price target on the fertilizer giant from $130 to $160.