Potash (NYSE:POT) Soars on Fertilizer Demand Outlook

Potash Corp (NYSE:POT) reached a 52-week high Thursday on expectations of strong fertilizer demand and a strong call from UBS (NYSE:UBS) on them.

With Potash holding strong positions in all three major fertilizer segments, they're poised for a breakout in spending from farmers, who enjoyed a good year on excellent crop prices, especially corn.

That should free up extra capital to replenish their fields.

UBS raised their EPS estimate for 2011 from $9.18 to $9.49 and for 2012 from $10.87 to $11.55.

UBS maintains their "Buy" rating on Potash, which closed Thursday at $169.10, gaining $7.12, or 4.40 percent. UBS has a price target of $185 on them.