Oppenheimer Lifts Nutrien (NTR) Price Target Despite Lighter Results, Citing Long-Term Growth Drivers

Nutrien Ltd. (NYSE:NTR) is included among the 13 Best Long-Term Dividend Stocks to Invest in Right Now.

On February 26, Oppenheimer analyst Kristen Owen raised the price recommendation on Nutrien Ltd. (NYSE:NTR) to $78 from $76. The analyst maintained an Outperform rating on the stock. The firm said recent results came in lighter than expected, but progress on portfolio actions continues to support the long-term investment case. Oppenheimer believes the company is entering a year with several potential catalysts. Improving farmer fundamentals, along with decisions related to its Phosphate business, Trinidad nitrogen operations, and Brazil Retail segment, are expected to improve earnings stability and strengthen free cash flow over time.

Reuters reported on February 19 that Nutrien expects crop nutrient demand to increase in 2026. This outlook comes even as farmers reduce phosphate fertilizer use due to lower returns. During its fourth-quarter earnings call, the company said potash demand is likely to rise. This is tied to strong crop production in 2025, lower fertilizer application during the U.S. fall season, and the relatively lower cost of potash compared with other fertilizers.

CEO Ken Seitz said North American potash sales will be “driven by the need to replenish soil nutrients following a record crop and a shortened fall application window.” He also noted that favorable weather in Australia is expected to support potash demand, as farmers prepare for upcoming planting seasons.

Seitz added that retail farm product sales in Brazil remain under pressure due to weak farmer profitability. As a result, many growers are delaying purchases for as long as possible. Even so, he said potash demand is unlikely to decline. Its lower cost makes it a practical choice, especially after large crops in 2025 depleted soil nutrients. He explained that farmers facing tight margins or losses often focus on maximizing crop yields. Achieving that goal requires sufficient fertilizer use, which continues to support long-term demand.

Nutrien Ltd. (NYSE:NTR) operates as a global provider of crop inputs and agricultural services. The company runs a large network of production, distribution, and retail facilities, with operations across its Nutrien Ag Solutions, Potash, Nitrogen, and Phosphate segments.

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