Jefferies upgrades US-listed shares of Nutrien to 'buy'; shares rise

Nutrien

12/03/2026 09:54

** Jefferies upgrades U.S.-listed shares of Canadian agrichemicals company Nutrien  NTR.TO, NTR.N to "buy" from "hold"

** It also raises price target to $96 from $74, representing an upside of 21% to the stock's last close on Wednesday

** U.S.-listed shares of the company up 4.4% at $82.77 in premarket trading, as fertilizer stocks soar on the escalated Middle East conflict, which tightened the global fertilizer markets

** Brokerage says North American producers, like NTR, are geographically insulated from fighting

** Jefferies expects near-term demand to be inelastic, with knock-on effects for row crop decisions next year

** 14 out of 24 brokerages rate the stock "buy" or higher, 8 "hold" and 2 "sell"; their median PT is $72.60- LSEG data

** As of last close, shares up 28.5% YTD

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))