Jefferies lowered the firm’s price target on Nutrien (NTR) to $60 from $61 and keeps a Hold rating on the shares after the company announced the sale of its 50% stake in Argentine nitrogen producer Profertil for $600M. The firm says Nutrien continues to streamline its portfolio and it expects more asset sale announcements, likely in South America. Jefferies cites reduced deal-related earnings for the target trim.
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