CVR Partners $UAN a deep value play for 2023

UAN

A cheap fertilizer producer with strong fundamentals is a strong bet for 2023. Latest ER reported strong Revenue and EPS beats despite Russian fertiliser exports being at all time highs.

MR Quarterly production was impacted by maintenance - this work has been completed and it is likely that production volumes will return to normal this coming quarter likely boosting revenues this year.

Macro factors e.g. war in Eastern Europe will likely add uncertainty to the availability of fertilizer along key transport routes to western Europe as sanctions against Russia take effect - shipping routes from Turkey will likely be impacted.

I expect this stock has 20% upside by end of 2023 excluding dividend.