Port Of Tauranga Ord Shs T.POT

Upgraded rating fuels Potash Corp.

[JohnDD]

https://www.theglobeandmail.com/servlet/story/LAC.20071228.RPOTASH28/TPStory/?query=potash Upgraded rating fuels Potash Corp. Reuters News Agency December 28, 2007 Predicting that fertilizer producers will gain significant pricing power in 2008, Goldman Sachs & Co. has upgraded its rating on Potash Corp. of Saskatchewan Inc., sending its shares to a new high for the year. The brokerage raised its rating on Potash stock to "buy," and said surging crop prices suggests a strong outlook for fertilizers next year. The stock price target for Saskatoon-based Potash Corp. was raised to $180 (U.S.) from $122, and 2008 and 2009 share profit estimates were raised by $1.10 and $2, respectively. For 2008 and 2009, analyst Edlain Rodriguez forecasts share profit of $6.60 and $8.50, respectively, but the 2007 forecast was cut by 4 cents, to $3.20. The stock rose yesterday to a 2007 high of $151.80, then fell back, to close up 1.31 per cent at $145.29 on the NYSE. It rose $5.66 (Canadian) or 4.12 per cent to $142.99 on the TSX.