What Analysts Recommend for Nutrien

Nutrien

Nutrien (NTR) reported earnings on May 7 after the market closed. Since then, the stock has climbed almost 6.4% to $49.2 as of May 10. Much of the recent surge in the company’s stock appears to have come from its merger talks with Sociedad Química y Minera de Chile (SQM), which is one of the largest lithium producers (LIT). Lithium has gained a lot of interest on the back of momentum in electric vehicle development.

What Analysts Recommend for Nutrien

Analyst ratings

Nutrien, which is the combined entity of PotashCorp (POT) and Agrium (AGU), only began trading on January 2. Since then, the company’s rating has changed four times. As of May 10, the current consensus mean rating on the stock stood at 2.1, with an overall “buy” recommendation for the next 12 months. This rating changed from 2.2 a month ago, indicating a more bullish outlook this month.

While the number of analysts recommending a “strong buy” remained unchanged at four month-over-month, the number of analysts recommending a “buy” increased from seven to eight in the current month. Consequently, the number of analysts recommending a “hold” went down to six from seven, while none of the analysts have a “sell” recommendation on the stock.

Price target

The current consensus price target for Nutrien stood at $56.7, which remained unchanged from a month ago, while the median dropped to $57 from $58 over this period. The mean price target still gives an upside of about 15% from its closing of $56.7 on May 10.

Next, we’ll discuss Sociedad Química y Minera de Chile S.A.