Nutrien Ltd. (NYSE:NTR) is one of the top cheap growth stocks to get rich.
Berenberg downgraded Nutrien Ltd. (NYSE:NTR) to Hold from Buy on June 10 and adjusted the price target on the stock to $65, up from $61
It told investors in a research note that the company is likely to deliver another year of solid earnings, supported by elevated fertilizer prices and a recovered retail business. However, it also added that the firm is concerned the consensus estimates “will continue to anchor on earnings levels that remain above mid-cycle.” Berenberg contended that the debate is no longer whether fertilizer earnings will normalize, but rather where normalized earnings will ultimately settle. The firm stated that it sees an 8% downside to 2028 consensus EBITDA estimates on lower nitrogen and potash price assumptions.
Nutrien Ltd. (NYSE:NTR) also received a rating update from Scotiabank on May 11. The firm raised the price target on the stock to $80 from $75 and reiterated a Sector Perform rating on the shares, stating that it is warming up to the company despite the downside risk to N prices near-term, as well as regional challenges to grower economics. Nutrien Ltd. (NYSE:NTR) is a crop nutrient company involved in the production and distribution of products for agricultural, industrial, and feed customers.