Jefferies lifts Nutrien PT, cites stronger fertilizer fundamentals
NTR•Jefferies raised its price target on Nutrien’s US-listed shares to $71 from $63, citing stronger fertilizer fundamentals and potential benefits from higher agricultural prices and demand. The new target represents 5.2% upside to Friday’s close.
1. Higher price target
Jefferies raised its price target for Nutrien to $71 from $63, citing potential support from a rebound in agricultural prices, stronger fertilizer demand, and supported potash markets. It said the closure of Nutrien’s Trinidad nitrogen operations likely improves free cash flow, while near-term nitrogen earnings may face pressure from lower volumes and higher costs.
