NEW YORK, April 19 Fertilizer maker Agrium
Inc's (AGU.TO) beaten-down shares should climb as the global
economy and corn prices bounce back, Barron's reported on
The investment magazine said demand for fertilizer, which
tracks corn prices, is likely to rise. The Calgary-based
company also is reducing its dependence on commodity markets
by expanding its network of 870 retail farm centers in North
and South America.
The stock trades at just 6.8 times estimated 2009
earnings, well below prices for rivals' shares, and a discount
to its own historic valuation of 14 times earnings.
Barron's noted Agrium is in a battle to acquire rival CF
Industries (CF.N), which could bolster prospects if it wins.
(Reporting by Joseph A. Giannone; Editing by Jan Paschal)