RESEARCH ALERT-Clal cuts Israel Chems price target to 45 shekels

JERUSALEM Tue Jan 1, 2013 5:19am EST

Related Topics

JERUSALEM Jan 1 (Reuters) - The Clal Finance brokerage lowered its price target for Israel Chemicals (ICL) to 45 shekels from 52 shekels amid lower prices being paid for potash by Chinese customers.

Clal in a report on Tuesday maintained a "market perform" recommendation for shares of ICL, a maker of fertilisers and specialty chemicals, which were 1.7 percent higher at 45.40 shekels at midday in Tel Aviv.

On Monday, three North American potash producers struck a six-month deal to supply the crop nutrient to a subsidiary of China's Sinofert Holdings at $400 per tonne, $70 less than the prior contract.

FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article