Nutrien price target lowered to $55 from $68 at Barclays

Barclays lowered the firm’s price target on Nutrien to $55 from $68 and keeps an Overweight rating on the shares. The analyst believes the market “still has to become acquainted with” lower potash pricing. With Nutrien’s retail guided down $150M at the midpoint, the firm lowered earnings power estimates but still sits with 19% upside potential given strong potash demand and elevated phosphate pricing.