CIBC analyst Hamir Patel raised the firm’s price target on Nutrien (NTR) to $90 from $81 and keeps an Outperformer rating on the shares. The firm raised its targets on all fertilizer equities under coverage. While the rally in the space since the conflict tin Iran began far exceeds the near-term earnings upside associated with a scenario of elevated spot commodity pricing persisting for two quarters, the firm now sees support for higher sector valuation multiples.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NTR:
- CE, APR, NTR: Wells Fargo Upgrades Chemical Stocks as Iran Conflict Lifts Pricing Outlook
- Midday Fly By: Adobe CEO to step down, Meta delays ‘Avocado’ AI model launch
- Adobe downgraded, Nio upgraded: Wall Street’s top analyst calls
- Nutrien upgraded to Overweight from Equal Weight at Wells Fargo
- Midday Fly By: Dick’s Sporting, Dollar General report quarterly beats