We are mildly bullish short-term (next few months). Longer term, that being two or three years, we think CVR Partners will face increased competition from large domestic nitrogen fertilizer expansions….given a fair risk-adjusted yield should be 8% (or 12.5 times CAD), we are increasing our six month target from $19 to $21.

(October 17, 2014 – CVR Partners LP $12.38 after hitting $21.93 on April 2, 2014)