Nutrien price target raised to $64 from $55 at CIBC

CIBC analyst Hamir Patel raised the firm’s price target on Nutrien (NTR) to $64 from $55 and keeps an Outperformer rating on the shares. The firm said it is making modest estimate revisions for several fertilizer and chemical names in its coverage, namely Chemed (CHE), Methanex (MEOH), Mosaic (MOS), and Nutrien, noting that Methanex remains its top pick in the space. While CIBC is holding offf revising its commodity deck for potash and the other nutrients pending greater visibility on the impact of recent supply disruptions and potential U.S. tariffs/Canadian export taxes, the firm noted upside risks are building to its price deck, and that it suspects the cost of any trade barriers would largely be carrier by the U.S. consumer.