Jun 23 2011 |
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MARKET TALK: HSBC Ups Indus Qatar To Neutral; Agriculture Boost
Thursday, Jun 23, 2011
0949 GMT [Zawya Dow Jones]--HSBC raises Industries Qatar to neutral, from underweight rating previously. Hikes its target price to QAR150 versus QAR135. Says upgrading on strong agricultural fundamentals and an increase in its urea price estimates for 2011 to $375/ton from $350/ton. " Industries Qatar generates about 35% of its EBITDA from its fertilizer business and the changes to our fertilizer pricing forecasts result in an increase in our earnings forecasts for 2011." Shares trade +0.6% at QAR150. (nikhil.lohade@dowjones.com)
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
23-06-11 0955GMT
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