Goldman (NYSE:GS) Knocks CF (NYSE:CF) Off "Conviction Buy List"

Goldman Sachs (NYSE:GS) has removed CF Industries (NYSE:CF) from their "Conviction Buy List" citing limited room for upward EPS revisions.

Goldman explained that "the 50% increase in 2011 consensus EPS since we upgraded the shares suggest more limited upward revisions in the future."

They still like CF on the strong Agriculture fundamentals in the mid-term, but see little to push them any higher in the short term.

The price target on CF was also slashed, with "a lower nitrogen multiple in our sum-of-the-parts analysis to reflect closer proximity to the peak," given as the reasoning behind it.

Goldman maintains a "Buy" rating on CF, which closed Monday at $120. The price target was cut from $155 to $144.