TSX:NTR - Post Discussion
Post by
retiredcf on Apr 12, 2023 10:49am
More CIBC
Still looking for more than 40% appreciation. GLTA
CIBC’s Jacob Bout cut his target for Nutrien Ltd. (NTR-N, NTR-T) to US$105 from US$106, remaining above the US$95.70 average, with an “outperformer” rating.
“We lower our 2023/2024 estimates for NTR/MOS reflecting the faster-than-forecast decline in fertilizer prices,” said Mr. Bout. “That said, a bottom in near-term pricing may be in place and in fact may see a snap-back in fertilizer prices, in particular the U.S. given expectations of a large North American crop and improved weather during the planting season. For chemical stocks (typically early cycle plays), the outlook is uncertain given the increasing probability of an economic recession.”
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