UBS Cuts Price Target on Agrium (AGU) to $72

Today, UBS lowered its price target on Agrium (NYSE: AGU) from $80 to $72. The firm's price target revision is notably as UBS just recently (October 8) cut its target on Agrium from $135 to $80. Despite the drastic slashing of Agrium's price target, UBS maintains its Buy rating on the stock.

Ag stocks such as Agrium have gotten demolished since mid-September when commodity prices began crashing. Since September 22, when shares of Agrium hit a near-term high around $84.60, the stock is down nearly 60%.

With shares of Agrium finishing today's trading session at $35.62, up about 4% on the day, UBS's price target represents potential price appreciation of about 125% from current levels.

Agrium, Inc. produces and markets agricultural nutrients, industrial products, and specialty products worldwide, as well as involves in the retail supply of agricultural products and services in North and South America.

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