New Buy Rating for Nutrien (NTR), the Basic Materials Giant
Nutrien received a Buy rating and price target from National Bank analyst yesterday. The company’s shares opened today at C$93.61.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nutrien with a C$112.86 average price target, representing a 20.56% upside. In a report released on July 7, Morgan Stanley also maintained a Buy rating on the stock with a $81.00 price target.
Based on Nutrien’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$5.95 billion and a net profit of C$128.85 million. In comparison, last year the company earned a revenue of C$5.1 billion and had a net profit of C$11 million
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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