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Nutrien (NTR): New Buy Recommendation for This Basic Materials Giant

Tipranks - Sun May 10, 2:20PM CDT

In a report released yesterday, Michael Sison from Wells Fargo reiterated a Buy rating on Nutrien, with a price target of $100.00. The company’s shares closed yesterday at C$93.49.

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Sison covers the Basic Materials sector, focusing on stocks such as Albemarle, Celanese, and LyondellBasell. According to TipRanks, Sison has an average return of -0.8% and a 42.66% success rate on recommended stocks.

Currently, the analyst consensus on Nutrien is a Moderate Buy with an average price target of $84.67, implying a -9.43% downside from current levels. In a report released on May 7, Barclays also maintained a Buy rating on the stock with a $85.00 price target.

NTR market cap is currently C$44.98B and has a P/E ratio of 70.49.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NTR in relation to earlier this year.

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