Nutrien (NTR) faces a combination of " steady markets and strong execution" in agriculture and fertilizer, supporting prospects of bolstering confidence from investors, RBC Capital Markets said Monday in a report.
The company "has performed well operationally, executing on management's key focus areas -- cost optimization, efficient capital allocation and consistent operations," RBC said following Q4 results last week.
"Constructive market conditions" are expected in the retail segment after years of volatility, RBC said. "High planted acreage in the US, supportive farmer incomes and stabilization in Brazil" may underpin "steady growth" in 2025 and 2026, the report said.
Potash markets are expected to be stable, though "tariffs could add near-term volatility," the report said. RBC trimmed estimates for earnings before interest, taxes, depreciation and amortization in 2025 and 2026 on lower nitrogen prices and higher natural gas costs.
RBC maintained an outperform rating for Nutrien's stock with a $60 price target.
Price: 52.01, Change: -0.58, Percent Change: -1.10
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