CIBC lowered the firm’s price target on Nutrien (NTR) to $88 from $90 and keeps an Outperformer rating on the shares. The firm adjusted targets in the fertilizer and chemical group as part of a Q1 preview. CIBC expects stronger nitrogen pricing due to Middle East supply disruptions. It also moderated estimates for Mosaic, saying phosphate price gains have lagged rising raw material costs.
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