Agricultural Chemical Companies Gain on Upgrades of Monsanto and Potash Corp. of Saskatchewan
NEW YORK (AP) -- Shares of agricultural chemical companies rose in Monday morning trading, lifted by upgrades of Monsanto Co. and Potash Corp. of Saskatchewan Inc.
UBS analyst Chris L. Shaw upgraded seed maker Monsanto to "Buy" from "Neutral" and said a pullback in the stock price has made shares a better value.
Meanwhile, RBC Capital Markets analyst Fai Lee upgraded Potash to "Top Pick" from "Outperform," expecting the potash producer to see gains from higher prices for potash, which is used as a fertilizer for crops.
Here's how some agricultural chemical companies fared on Monday.
Monsanto rose $4.29, or 4.5 percent, to $101.44.
DuPont Co. rose 36 cents to $45.81.
Dow Chemical Co. rose 6 cents to $36.55.
Potash rose $5.35, or 3.9 percent, to $149.85.
Mosaic Co. advanced $3.46, or 4 percent, to $95.52.
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