Nutrien price target raised to $76 from $64 at Oppenheimer

Oppenheimer raised the firm’s price target on Nutrien (NTR) to $76 from $64 and keeps an Outperform rating on the shares. On whole, the firm believes the agriculture sector is positioned for another challenging year, with pockets of stabilization and company specific catalysts driving stock performance. Oppenheimer sees consolidation, affordability, and innovation as key themes, with machinery positioned for cycle transition, inputs demand driven by customer value perception, and ingredients becoming a more interesting pocket of the coverage, looking for a catalyst.