Scotiabank Raises Nutrien (NTR) PT to $70 While Advising Fertilizer Market Caution

Nutrien Ltd. (NYSE:NTR) is one of the most undervalued Canadian stocks to buy according to hedge funds. On February 2, Scotiabank raised its price target for Nutrien to $70 from $63 while keeping a Sector Perform rating. The firm advised caution regarding fertilizer markets following the spring season and stated that the company appears to be fairly valued at current levels.

On January 27, Oppenheimer increased its price target for Nutrien Ltd. (NYSE:NTR) to $76 from $64 while keeping an Outperform rating. Despite anticipating another challenging year for the broader agriculture sector, the firm expects stock performance to be driven by specific company catalysts and pockets of stabilization.

Key industry themes identified by Oppenheimer include consolidation, affordability, and innovation, noting that input demand is being shaped by customer value perception while machinery prepares for a cycle transition and the ingredients segment emerges as an area of interest awaiting a catalyst.

Nutrien Ltd. (NYSE:NTR) provides crop inputs and services. The company operates through four segments: Nutrien Ag Solutions, Potash, Nitrogen, and Phosphate.

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Disclosure: None. This article is originally published at Insider Monkey.