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Potash Corp. Climbing on Revised Forecast Above Estimates (POT)

Written on Fri, 03/12/2010 - 1:58pm
By Chip Brian

3/12/2010-Shares of Potash Corp. of Saskatchewan (NYSE:POT) are trading 7.6% higher to $125.78 Friday after the company raised its earnings outlook Thursday, saying "a sharp rebound in potash demand" is expected to drive a record quarter for North American sales volumes and strong exports to the U.S., China, India and Brazil.
"Strong farmer returns, a depleted distributor pipeline and the agronomic need to replace soil nutrients have kick-started a potash rebound from 2009 lows," CEO Bill Doyle said in a statement late Thursday.
The company said it now forecasts EPS of $1.30 to $1.50, (up from the $0.70 to $1 it previously forecast), versus consensus estimates of $0.94.

Keywords: Potash forecast revised Stock finance smartrend

Ticker(s): POT NEWS

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