CF Industries falls as Mizuho downgrades to 'underperform'

Shares of fertilizer company CF Industries down ~4% at $118.50 premarket

Mizuho downgrades stock's rating to "underperform" from "neutral"; raises PT to $100 from $95

Brokerage says the big gains from the surge in oil and fertilizer prices due to the Middle East conflict have likely
already been captured

Views that the surge in nitrogen prices is not long-lasting and prices will come down once the conflict ends

However, it raises PT to reflect the temporary earnings boost and decline in net debt that are expected in 2026

Four out of 22 brokerages rate stock "buy", 14 "hold" and four "sell"; median PT is $100 - data compiled by LSEG

As of last close, CF down 59.4% YTD