The Wall Street bank says the global fertilizer maker commands a 55% profit margin as it is insulated from the rise in natural gas prices.
Shares of Sabic Agri-Nutrients are expected to rise by more than 50% over the next year thanks to a limited fertilizer supply worldwide, according to Bank of America. The company, formerly known as Saudi Arabian Fertilizer Company, is one of the largest producers of fertilizers, with an annual production capacity of about 4.5 million tons.
"We also expect the urea cost curve to steepen, supported by rising gas prices in EU and Asia along with high coal prices," Lanka added. Although gas prices have eased since their August peak, analysts expect demand to pick up in Europe during the winter.
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