Agriculture & Food Manufacturing

Miller Tabak + Co., LLC's agricultural coverage is focused on monitoring global commodity trends, identifying industry macro themes, conducting fundamental investment analysis, and generating bespoke trading ideas across the global agricultural input and upstream food processing sector. While our primary mission is to enhance our client's long-term investment performance, we also see the importance of assuming contrarian investment positions on an opportunistic basis to ensure investors receive a comprehensive view during the investment selection process.

Our analysis directs clients toward the sectors, regions, and stocks that we consider the optimal beneficiaries or victims of either cyclical or macro conditions. Our current coverage includes the Ag-chemical sector spanning the fertilizer, seed, and crop protection sub-sectors. Our experience covering a range of international equities enables us to highlight both pitfalls and opportunities across our global universe. Looking forward, we also hope to provide clients with a one-stop resource across key verticals, with a core focus on farming inputs and upstream food processing.

We provide primary coverage of 6 Ag chemical service companies, including investment recommendations and actively updated earnings models for each company. MT will also comment on companies outside our primary coverage when company-specific events or relevant industry trends warrant.

The primary coverage list encompasses: Agrium (AGU), CF Industries (CF), Potash Corp. (POT), Monsanto (MON), SQM (SQM-ADR), and Syngenta (SYT-ADR)

MT's Agriculture Research Strategist, Tim Tiberio, has followed soft commodity related equities for 4 years on the sell side as a senior analyst with a focus on international equities.