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Shares of fertilizer giant Nutrien lifted by positive investment reports

Stockhouse Editorial
0 Comments| January 3, 2018


Shares of Canadian fertilizer giant Nutrien Ltd. (TSX: T.NTRForum) advanced on the second day of trading Wednesday following news of a positive investment report.

The shares rose 0.10% to $69.08 in afternoon trading, Wednesday.

CIBC has assigned an “outperformer” trading for the shares, and set a 12-month target price of US$62 a share.

CIBC has been restricted from commenting on the shares because it had acted as an adviser to Agrium Inc., leading up to its merger with Potash Corp. of Saskatchewan.

More information can be found here.

Analyst Jacob Bout said in a report that Nutrien has likely been “sandbagging” its estimate of US$500 million in cost-saving synergies, arising from the deal.

A report by Thomson Reuters says Laurentian Bank Securities and Bernstein rate Nutrien a “buy” and “outperform” respectively, while BMO has assigned a “market perform” rating to the shares.

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