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Nutrien price target raised to $78 from $76 at Oppenheimer

Oppenheimer analyst Kristen Owen raised the firm’s price target on Nutrien (NTR) to $78 from $76 and keeps an Outperform rating on the shares. While results were light, progress made on portfolio actions continue to drive the Nutrien thesis, the firm says. Oppenheimer sees a catalyst-rich year ahead for Nutrien, with farmer fundamentals stabilizing, and decisions for its Phosphate business, Trinidad nitrogen, and Brazil Retail all expected to improve earnings stability and strengthen free cash flow generation.

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