- (PLX AI) - K+S is likely to raise outlook yet again later this year, but shares probably won't rise much more from current levels, Bank of America analysts predicted.
- • K+S raised its 2021 EBITDA outlook yesterday to EUR 700-800 million (previously EUR 500-600 million)
- • Potash prices are likely to stay high in the short-term, but face a large downward correction in the medium-term, BofA said
- • Potash affordability has fast deteriorated, limiting further upside, while Chinese stockpiling seems to have boosted crop prices temporarily: BofA
- • K+S remains a high cost producer with poor FCF generation and high capex: BofA
- • BofA rates K+S underperform, with price target EUR 10, implying 20% downside