Nutrien: Climbs as CFRA upgrades on bullish U.S. agriculture outlook

NTR Holding A/S

04/12/2020 15:56

** CFRA upgrades Canadian fertilizer firm's  NTR.TO 
U.S.-listed shares  NTR.N  to "buy" from "hold", raises PT by
$15 to $57; Shares up 2.7% at $50.60
    ** NTR is one of the most diverse fertilizer plays going
into 2021, CFRA analyst Richard Wolfe writes in a note
    ** Says brokerage has a bullish outlook on U.S. agriculture,
which it thinks will benefit from improved U.S.-China trade
relations and higher crop prices
    ** Higher crop prices and discretionary spending will drive
volume and margin expansion, benefiting NTR's retail segment -
CFRA
    ** "Estimates for corn exports and domestic use, which we
think are setting the stage for a solid U.S. planting season in
2021, coupled with rising energy costs support nitrogen
fertilizer price recovery," says CFRA
    ** Additionally, UBS raises PT to $56 from $46
    ** Sixteen of 23 brokerages rate the stock "buy" or higher,
and 7 "hold"; median PT is $47 - Refinitiv data
    ** Stock up 5.3% so far this year 

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))