Bulls Return to Uralkali on Ruble’s Plunge, Potash Prices
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After the breakup of a joint marketing venture and subsequent plunge in potash prices wiped out all of OAO Uralkali’s buy ratings last year, analysts are turning bullish again as the weakening ruble and a rebound in demand boosts the Russian producer’s profit outlook.
Six analysts rate Uralkali a buy, while 13 recommend holding the stock and three advise selling, according to data compiled by Bloomberg. The London-traded shares ended a four-month streak of losses in October as bullish ratings outnumbered bearish ones for the first time since since July 2013.