CF Industries downgraded to Underperform from Neutral at Mizuho

Mizuho analyst Edlain Rodriguez downgraded CF Industries (CF) to Underperform from Neutral with a price target of $100, up from $95. The firm cites the big run-up in CF and other fertilizer stocks in 2026 for the downgrade. The gains from the surge in oil and fertilizer prices due to the Middle East conflict have likely already been captured and are overdone, the analyst tells investors in a research note. Mizuho now believes CF’s risk/reward is more skewed to the downside. The surge in nitrogen prices is not long-lasting and will come down when the conflict ends, contends the firm.