Why now might be the right time to plant Nutrien in your portfolio – by Jonathan Ratner (Financial Post – July 5, 2018)

https://business.financialpost.com/

A recent rally in potash and nitrogen prices has pushed Nutrien’s shares back up toward the level at which they began trading post-merger

Maybe it has something to do with the name change, but more likely it is the result of a persistently weak market for fertilizer ingredients.

Any way you slice it, Nutrien Ltd. has been buried in the back of many investors’ minds since it was created through the US$36-billion mega-merger of Agrium and PotashCorp of Saskatchewan early this year.

But things could be about to change, thanks to a recent rally in potash and nitrogen prices that has pushed Nutrien’s shares back up toward the level at which they began trading post-merger.

“Potash prices continue to surprise to the upside, in our view, benefitting from near-record demand and generally lethargic new supply,” said Steve Hansen, an analyst at Raymond James.

His price target of US$65 per share represents 20 per cent upside to Wednesday’s closing price of $54.32 in New York and is the highest of 20 analysts tracked by Bloomberg.

For the rest of this article: https://business.financialpost.com/investing/is-it-time-to-plant-nutrien-ltd-in-your-portfolio

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