Raymond James upgrades Nutrien on ‘signs of life’ in potash

Raymond James upgraded Nutrien (NTR) to Outperform from Market Perform with a price target of $60, up from $58. The firm sees “tangible signs of life” in potash markets. The recent decline in the share price presents a more compelling entry point, the analyst tells investors in a research note. Raymond James highlights spot prices for potash in Southeast Asia and Brazil are rising and says its recent meeting with management indicated Nutrien’s efforts to streamline the business are “gathering momentum.”