Scotiabank Rates CF Industries (CF) buy, $125 Price Target

Scotiabank analyst Ben Isaacson has upgraded CF Industries Holdings, Inc. to a 'buy' rating with a new target price of $125, a 15.46% upside from the current price.

By EarningsIQ Research Desk · Published Jun 30, 2026, 11:02 AM EDT · Updated Jul 1, 2026, 3:01 PM EDT

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Scotiabank rated CF Industries Holdings, Inc. ($CF) "buy" with a $125 price target on June 30, 2026.

Since the rating, $CF is up 6.2% after 1 week, up 16.2% after 1 month and up 12.2% to date (from the $107.71 close on Jun 30, 2026).

CF CF Industries Holdings, Inc.

$120.85 +53.03% year to date

Daily close · Oct 16, 2026

Key Points

Scotiabank's Ben Isaacson upgraded CF Industries Holdings, Inc. to a 'buy' with a price target of $125 on June 30, 2026.
Scotiabank's $125 price target implies 15.46% upside from CF Industries Holdings, Inc.'s ($CF) current $108.26 share price.
Shares of CF Industries traded near $105.4 on Tuesday, with a market cap of $16.24 billion and a P/E ratio of 9.52.
Major institutional investors like Vanguard and BlackRock have recently adjusted their positions in CF Industries.

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Scotiabank has upgraded CF Industries Holdings, Inc. (NYSE: CF) to a 'buy' rating, assigning a new price target of $125. This change, announced on June 30, 2026, comes as analyst Ben Isaacson sees potential in the company's stock, which traded at approximately $105.4 on Tuesday.

CF Industries Holdings, Inc. Stock Down 9.4%

Shares of NYSE:CF traded near $105.4 on Tuesday. CF Industries Holdings, Inc. has a market capitalization of about $16.24 billion. The company's P/E ratio stands at 9.52, with a forward P/E of 9.13, indicating moderate valuation levels. CF Industries has a beta of 0.382, reflecting lower volatility compared to the broader market. The stock's 52-week range spans from $75.42 to $141.96, with a 50-day moving average of $116.85 and a 200-day moving average of $99.41.

12-month forecast

$CF price target

CF Industries Holdings, Inc. daily closes and this analyst's $125 target. Not advice.

Other Institutional Activity in CF Industries

Recent institutional activity shows varied interest in CF Industries. BlackRock, Inc. slightly trimmed its holdings by 76,197 shares, leaving it with 12,191,733 shares valued at about $1.58 billion. Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both opened new positions, holding 10,051,527 shares worth $1.31 billion, and 7,739,669 shares valued at $1.00 billion, respectively. Meanwhile, State Street Corp added 38,638 shares, bringing its total to 7,887,744 shares, valued around $1.02 billion. Price T Rowe Associates Inc /MD/ increased its stake by 604,753 shares to 7,526,789 shares, worth approximately $977.28 million.

Insider Buying and Selling at CF Industries Holdings, Inc.

Several insiders at CF Industries have been buying shares recently. On May 26, 2026, Andrew Scribner, EVP and CFO, acquired 6,464 shares. Earlier, on April 28, 2026, Theresa Wagler, John Eaves, Celso White, and Robert Arzbaecher each bought 1,390 shares. Trevor Leigh Williams, SVP of Manufacturing & Distribution, also purchased 4,184 shares on the same day. These transactions were not part of a planned trading program.

Analysts Set New Price Targets

On June 30, 2026, Scotiabank upgraded CF Industries to a 'buy' with a $125 price target. JP Morgan maintained its 'hold' rating with a $115 target on June 3, 2026. Barclays continues to support a 'buy' rating, setting a target of $145 on April 27, 2026. The consensus among 19 analysts is a 'hold' rating, with an average target price of $125.16.

About CF Industries Holdings, Inc.

CF Industries Holdings, Inc. is a leading producer of ammonia, with operations spanning North America, Europe, and other international markets. The company manufactures a variety of nitrogen products, including granular urea, urea ammonium nitrate solution, and ammonium nitrate. Headquartered in Northbrook, Illinois, CF Industries serves a diverse customer base, including cooperatives, retailers, and industrial users. Led by CEO Christopher D. Bohn, the company employs approximately 2,900 people.

Bottom Line

Scotiabank's upgrade of CF Industries to 'buy' reflects optimism about the company's future prospects. As a major player in the agricultural inputs sector, CF Industries continues to attract attention from institutional investors. However, it's important to remember that analyst ratings and institutional holdings can change over time, and this report is based on the latest available data.