Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Equity Bottom-Up

Potash Corp Of Saskatchewan / Equity Bottom-Up

<ul><li class="p1">We have lowered our long-term potash price outlook roughly&nbsp;10% to $285 (real terms) per metric ton from $315.</li><li class="p1">We now&nbsp;expect negotiations with China in 2016 will end in a cut to&nbsp;the contract price.</li><li class="p1">We expect potash supply growth to&nbsp;slightly exceed demand up to 2020.</li><li class="p1">As a result, we expect&nbsp;prices to slide in real terms until that time.</li><li class="p1">At $22 per share, we think PotashCorp's shares are&nbsp;undervalued.</li><li class="p1">It seems the market is pricing in flat volumes&nbsp;and weaker prices than we're expecting</li></ul>

We have lowered our long-term potash price outlook roughly&nbsp;10% to $285 (real terms) per metric ton from $315.We now&nbsp;expect negotiations with China in 2016 will end in a cut to&nbsp;the contract price.We expect potash supply growth to&nbsp;slightly exceed demand up to 2020.As a result, we expect&nbsp;prices to slide in real terms until that time.At $22 per share, we think PotashCorp's shares are&nbsp;undervalued.It seems the market is pricing in flat volumes&nbsp;and weaker prices than we're expecting

We've Cut Our Potash Producer Fair Value Estimate on Price Pressure, But Shares Look Compelling

China

China BlueChemical Ltd. operates as a developer and manufacturer of mineral fertilizers and chemicals. The Company produces urea, phosphate and compound fertilizers, and methanol, using proprietary research. China BlueChemical is a state-owned enterprise.

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China Bluechemical Ltd H (3983 HK)

We've Cut Our Potash Producer Fair Value Estimate on Price Pressure, But Shares Look Compelling

We have lowered our long-term potash price outlook roughly 10% to $285 (real terms) per metric ton from $315. We now expect negotiations with...

Morningstar, Inc.

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