by Sam Collins | August 4, 2011 3:00 am
Potash Corp. of Saskatchewan (NYSE:POT) — This Canadian integrated fertilizer and feed products company is the world’s largest diversified fertilizer company and, thus, is in a unique position to supply the required nutrients to grow crops for Third World countries that are in need of grain products.
POT stock has been in a bull market since late 2008. Since then, it has risen from $18 to over $63.
Several research analysts have recently raised their opinion on POT from “hold” to “buy.” And the company has been the subject of takeover rumors, but so far nothing has developed.
Technically the stock broke from a seven-month consolidation in June with a trading target of $66. Current profit-taking offers an excellent opportunity to buy this premier stock at its 50-day moving average (blue line).
POT reported Q2 earnings Monday, beating Zack’s forecast of 86 cents with EPS of 96 cents.
Source URL: http://investorplace.com/2011/08/trade-of-the-day-potash-corp-of-saskatchewan-nysepot/
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