Nutrien price target raised to $63 from $60 at BofA

BofA raised the firm’s price target on Nutrien (NTR) to $63 from $60 and keeps a Buy rating on the shares. Potash prices continue their upswing in Asia and should be supported by strong demand in the U.S. despite soft farmer economics and Brazil as crop prices in the region have improved, says the analyst, who believe this should be rewarded with a higher multiple for Nutrien.