17 June 2008 11:40 [Source: ICIS news]
LONDON (ICIS news)--Citigroup has raised its earnings forecasts for Russian fertilizer producer Uralkali on the back of record potash export prices, the investment bank said on Tuesday.?xml:namespace>
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“As $1000/tonne is now a reality, we expect all of Uralkali's customers to pay such a price in 2009,” said Citigroup analyst Daniel Yakub in a note to investors.
The bank raised its earnings per share (EPS) estimates for Uralkali by 8% for 2008 and 31% for 2009. It also raised the target share price to $86 from $69.
($1 = €0.65)
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