BUZZ-Nutrien Ltd: Multiple brokerages start coverage
** Atleast 3 brokerages assume coverage of fertilizer producer Nutrien Ltd , formed earlier this week by a merger of Potash Corp of Saskatchewan and Agrium
** Credit Suisse starts with "neutral" on PT of $53, says it has confidence in NTR's ability to execute $500 mln in cost-savings in next 2 yrs, but believes fertilizer profit expectations are well ahead of reality
** Raymond James initiates with "market perform" on $60 PT; expects NTR to immediately pursue cost-savings and monetize about $4.5 bln of equity holdings
** Says proceeds will open the door to debt reduction, stock buybacks as well as increased retail M&A
** BofA Merrill starts with "underperform" on fair value of $60
** Currently, 8 brokerages cover NTR's Toronto stock, with 5 recommending "buy" or higher, 2 "hold" and 1 "sell" (Reporting by John Benny)