Oppenheimer on Tuesday initiated coverage of Nutrien (NTR.TO, NTR) with an outperform rating and US$60.00 price target.
"We are initiating coverage on shares of Nutrien with an Outperform rating and a $60 price target. Nutrien is the world's largest fertilizer producer and, through its Ag Solutions business, the world's largest ag retailer. Nutrien's differentiation stems from its vertical integration (upstream production, midstream logistics, and downstream retail), with retail providing critical on-the-ground intel and the greatest opportunity for reducing cash generation variability across the cycle. While believing that 2025 farm fundamentals remain challenging, we see potash supply/demand
trends broadly returning to a state of balance as the cost of incremental capacity remains elevated. Our $60 price target aassumes EBITDA growth in line with NTR's outlook and a mid-cycle 7.0x multiple," the investment bank noted.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 73.51, Change: -0.21, Percent Change: -0.28
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.