Company Overview - CF Industries Holdings, Inc. has a market cap of $14.4 billion and is a global manufacturer of hydrogen and nitrogen-based products, serving various markets including energy, fertilizer, emissions abatement, and industrial sectors across North America, Europe, and other regions. Key products include ammonia, urea, urea ammonium nitrate, and ammonium nitrate [1] Stock Performance - Over the past 52 weeks, CF stock has risen by 10.1%, underperforming the S&P 500 Index, which gained nearly 14%. However, on a year-to-date basis, CF shares have increased by 19.8%, significantly outperforming the S&P 500's 1.3% return [2] - The stock has also lagged behind the State Street Materials Select Sector SPDR ETF, which gained 16.8% over the same period [3] Recent Financial Results - Following the Q3 2025 results released on November 5, shares of CF Industries fell by 4.2%. Investors were concerned about higher cost pressures, particularly the increase in realized natural gas costs from $2.10 per MMBtu a year earlier to $2.96 per MMBtu. Additionally, sales volumes declined year-over-year to 4.5 million tons from 4.8 million tons, raising concerns about near-term volume momentum, despite net sales growing to $1.66 billion [5] Earnings Expectations - For the fiscal year ending December 2025, analysts expect CF's EPS to grow by 32.2% year-over-year to $8.91. The company has a promising earnings surprise history, having beaten consensus estimates in the last four quarters. Among 19 analysts covering the stock, the consensus rating is a "Hold," with four "Strong Buy" ratings, 13 "Holds," one "Moderate Sell," and one "Strong Sell" [6] Analyst Ratings and Price Targets - On January 30, Joshua Spector of UBS maintained a "Hold" rating on CF Industries Holdings with a price target of $86. The stock is currently trading above the mean price target of $90.11, while the highest price target of $110 implies a potential upside of 18.5% from current levels [8]