Mining: CIBC Cuts PotashCorp Target Price

CIBC analysts cut their price target on Potash Corporation of Saskatchewan by 15 percent to $46 from $54.

  • Slowing global demand due to lowered demand in key markets
  • Worries regarding a ‘potash holiday’  in China and India, contributing to lower prices
  • Expected 2012 consumption to fall by 4.6%
  • Potash target price per tonne lowered to $450 from $600 
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