Nutrien upgraded to Buy at BofA on ‘bullish backdrop’

As previously reported, BofA upgraded Nutrien (NTR) to Buy from Neutral with an $82 price target The firm has been “hesitant to chase” chemical price inflation in disrupted markets, but Nutrien shares still trade at pre-conflict levels, which creates an attractive option for investors looking for conflict exposure. Nutrien is “a best-in-class operator in an agriculture market which looks increasingly bound for a more sustained bullish backdrop,” the analyst added.