** J.P. Morgan raises price target on agri-chemical companies Nutrien NTR.TO and Mosaic MOS.N as potash and phosphate prices inch up
** Says potash prices are rising in countries that do not have excess potash inventories and are yet to sign their annual contracts
** "New contract signings are likely to keep markets from loosening" - J.P. Morgan
** Brokerage says NTR and MOS are benefiting from tightness in the potash market
** "Phosphate prices are also climbing because of curtailed phosphate exports from China and phosphate production disruptions in the U.S." - brokerage
Brokerage changes PT on the following companies:
Company | New PT | Old PT | Upside to stock's last close |
Nutrien NTR.TO | $56 | $50 | 2.3% |
Mosaic MOS.N | $35 | $29 | 8.5% |
(Reporting by Sumit Saha in Bengaluru)
((Sumit.Saha@thomsonreuters.com;))
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