Nutrien (NTR) PT Lowered to $70 at BMO Capital

BMO Capital analyst Joel Jackson lowered the price target on Nutrien (NYSE: NTR) to $70.00 (from $75.00) while maintaining a Outperform rating.

The analyst commented, "Reiterate Outperform rating, but lower our target price to US$70, as 2025/26E estimates lower slightly. Potash demand continues to improve and pricing seems to have bottomed (Lukashenko seems stressed by these prices, doesn't he?) while European gas premiums remain supportive for nitrogen. As well the buyback is back on. There are certainly concerns Retail will struggle to grow to $2B over a couple of years, though at current multiples (our target is ~7.5x 2025E EV/EBITDA), NTR appears attractive with upside risk seeming higher probability than downside risk."

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