CF Industries price target raised to $105 from $98 at Wells Fargo

Wells Fargo raised the firm’s price target on CF Industries (CF) to $105 from $98 and keeps an Overweight rating on the shares. A positive nitrogen outlook and additional derisking of the Blue Point joint venture warrant a modest multiple lift, the analyst tells investors in a research note. The firm expects CF’s strong track record of industry-leading cash generation and returning cash to shareholders through the cycle to continue even through the Blue Point development phase.