Yara will release its Q2/20 results on Friday 17 June. We have lowered our estimates marginally ahead of the report, and we are currently a modest 1% above consensus. Urea prices have shown strength over the past two weeks and are set to improve further during H2/20. The combination with depressed gas prices will continue to support earnings, and will in our view continue to provide downside protection. We stick to our Buy rating and our NOK 400 TP.
17 Jun 2020
Q2 estimates holding up
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Q2 estimates holding up
Yara will release its Q2/20 results on Friday 17 June. We have lowered our estimates marginally ahead of the report, and we are currently a modest 1% above consensus. Urea prices have shown strength over the past two weeks and are set to improve further during H2/20. The combination with depressed gas prices will continue to support earnings, and will in our view continue to provide downside protection. We stick to our Buy rating and our NOK 400 TP.