CF Industries price target raised to $132 from $103 at Goldman Sachs

Goldman Sachs raised the firm’s price target on CF Industries (CF) to $132 from $103 and keeps a Neutral rating on the shares. The Middle East conflict has driven a sharper-than-expected impact on nitrogen fertilizers, with urea prices rising 50%-70% due to pre-existing market tightness, creating increasing strain on agriculture as the conflict continues, the analyst tells investors in a research note. At the same time, sulfur shortages are pressuring phosphate producers globally, with production cuts already emerging, the firm says.