Baader cuts K+S to 'sell' on potash market downturn

K+S AG

23/08/2024 09:23

** Baader Helvea downgrades German potash and salt miner K+S
 SDFGn.DE  to "sell" from "add" due to a downturn in the potash
market
    ** It says weakening soft commodity prices and higher farm
costs restrict farmers' fertiliser budget, while producers'
pricing power is limited due to an abundant global supply of
potash
    ** "There might not be a quick end to this downturn due to
strong supply additions and weaker demand growth" - Baader
    ** Out of 21 analysts that cover K+S, seven rate the stock
"strong buy" or "buy", ​eight "hold", and six "strong sell" or
"sell" - LSEG

 (Reporting by Chiara Holzhaeuser)
 ((Chiara.Holzhaeuser@thomsonreuters.com))