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By Market News Video Staff, Monday, November 22, 12:12 PM ET
JP Morgan (NYSE:JPM) resumed its coverage of Potash Corporation of Saskatchewan (NYSE:POT) with an overweight rating. The firm had had the firm rated a neutral before it suspended coverage during the BHP Billiton (NYSE:BHP) takeover attempt. Grain and potash prices should lead to stronger earnings, the firm said, and gave Potash a $155 price target – well above the $130 per share BHP wanted to pay for the company.
Potash shares are trading higher by 0.3% on Monday.
Potash is among the top holdings of the Agribusiness ETF (AMEX:MOO), at 6.87% of the portfolio.
Deere & Co. (NYSE:DE) is 8.34% of the total, while Mosaic (NYSE:MOS) makes up 8.26% of the fund. Monsanto (NYSE:MON) is 7.92% of the portfolio, which is trading lower by 0.3% today.
The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors — anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.
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