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