Agrium Reports Decent 2Q Heading Into Merger With PotashCorp
Agrium reported decent second-quarter results as growth in the retail segment was offset by continued headwinds in the wholesale nitrogen business. We are maintaining our fair value estimate of $114 per share and trimming our Canadian fair value estimate to CAD 145 per share from CAD 156 based on a recent strengthening of the loonie versus the U.S. dollar. Our narrow moat rating is unchanged. We still expect the merger with Potash Corporation of Saskatchewan to close in the second half of this y...Agriumis a retailer of agricultural products and services in the U.S., Canada, Australia, Argentina, Brazil, Chile and Uruguay and a producer and wholesale marketer of nutrients for agricultural and industrial markets. Co. reported its business through two business units, Retail, which operates in North and South America and Australia, providing crop inputs and services directly to farmers; and Wholesale, which operates in North and South America and Europe, and produces, markets and distributes all major crop nutrients for agricultural and industrial customers both domestically and around the world.
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