CF Industries Holdings Inc

CF: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$74.00	Ybrqtw	Dldnqch

CF Industries Earnings: Lower Nitrogen Prices Offset by Falling Natural Gas Prices

Seth Goldstein

Aug 3, 2023

We maintain our $85 per share fair value estimate for CF Industries following the company's second-quarter earnings. Our no-moat rating is also unchanged. At current prices, we view CF shares as fairly valued, with the stock trading just below our fair value estimate. As such, we recommend investors wait for the stock to pullback and offer a larger margin of safety before we would recommend shares.

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