It has been a great one-week run for the stock of fertilizer producer CF Industries Holdings (CF). The company is trading at $155.91, up almost $6 after hitting a high of $156.34, and smashing the 2011 high of $153.83 set on February 10. CF closed at $139.06 last Friday, so it’s up 12.1% in five days.
It could go higher, but I think the risk is there for a pullback until mid-next week, when we get a better fix on the weather going into early June. Our target price for CF is $186 by harvest time in October.