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Yara International increases significantly on Oslo Børs on Wednesday.
Yara rose 1.88 percent to 352.5 crowns, and the share has soared more than ten percent since the company posted earnings for the second quarter last Tuesday.
Recommends Purchase
Pareto Securities maintains its buy recommendation on Yara in an update on Wednesday with a target price of 400 crowns. Brokerage reports that the negative effects of higher energy costs in the third and fourth quarters are largely offset by higher fertilizer prices
– Since June, fertilizer prices have risen and Yara's latest CAN award 215 euros per tonne Pareto written in October 2018, boosting confidence in our estimates for the second half of the year
Waiting for significant earnings growth
The brokerage continues to see the cyclical acquisition continue in the years ahead and believes that the what should lead to higher prices. The brokerage agency believes that a tighter market, combined with the measures taken by the company, should result in significant earnings growth for Yara in the coming years.
Yara's stock was traded at 127.7 million NOK on the Oslo Stock Exchange on Wednesday. ) {
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