Nutrien price target lowered to $115 from $120 at RBC Capital

RBC Capital analyst Andrew Wong lowered the firm’s price target on Nutrien to $115 from $120 but keeps an Outperform rating on the shares ahead of its Q4 results. The company remains the firm’s preferred name for broad exposure to strong ag and fertilizer fundamentals, with downside support coming from steady Retail segment and elevated free cash flow, the analyst tells investors in a research note. There is potential for near-term downward consensus revisions and softness in fertilizer prices, but the stock also offers a buying opportunity as expectations re-base post Q4 reporting, RBC Capital added.