Roth Capital analyst Joe Reagor raised the firm’s price target on Brazil Potash (GRO) to $5.50 from $3.75 and keeps a Buy rating on the shares. The company announced it had entered into a definitive offtake agreement with Keytrade Fertilizantes Brasil, and the firm views this as a positive development for the company as it has now secured offtake for 60% of production, the analyst tells investors in a research note. Roth has also updated its model to reflect recent financial results as well as higher future dilution assumptions due to share price weakness.
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