Stifel downgrades K+S on risk of negative trends, shares fall

K+S AG

11/04/2024 09:25

** Shares in K+S  SDFGn.DE  fall around 3% after Stifel
downgrades the German salt and potash miner to "sell" from
"hold", flagging a risk of worsening sentiment post Q1
    ** The broker expects K+S to report solid Q1 EBITDA and FCF,
but warns the trend could get worse in the coming quarters
    ** High inventories in China and Brazil could lead to
falling potash prices, with farmers and fertiliser makers
unlikely to accept higher European prices for long, it says
    ** Stifel sees no reason to expect a tightening potash
market or a price rebound in the coming years either
    ** Nine out of 21 analysts rate the K+S stock "strong buy"
or "buy", ​eight "hold" and four​ "strong sell" or "sell"

 (Reporting by Mateusz Dobrzyniewski)
 ((Mateusz.dobrzyniewski@thomsonreuters.com))