Nutrien downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded Nutrien to Market Perform from Outperform with a price target of $65, down from $80. The firm has increasing concerns over protracted pressure in potash, and while global potash prices found support last year after a sharp/extended slide, subsequent attempts to rally have largely “fizzled” in response to a slew of supply-related headwinds, the analyst tells investors in a research note.