JP Morgan is out with a major earnings change on Potash (NYSE:POT) this morning raising their 2009 EPS est to $18.50 from $11.75 a share (vs. consensus $12.70).
Firm's 2008 earnings estimate goes to $10.50 from $8.95 a share.
Notablecalls: Wow, this is probably one the largest EPS est raises I've seen in a long time. POT has gotten whacked over the past two days on apparent "sell-the-news" reaction to their fantastic results.
I suspect POT will be re-testing the $200 level today following JPM's call.
PS: Currently, RBC Capital has the Street high $300 tgt on POT. This tgt is based on their 2009 EPS of $15.02, which is over $3 lower than JPM's new EPS est. Fwiw.