Jefferies Lowers Nutrien (NTR) PT to $60 Following $600M Sale of Argentine Nitrogen Stake

Core Insights - Nutrien Ltd. is currently viewed as one of the best Canadian stocks to buy, with a recent price target adjustment by Jefferies to $60 from $61 while maintaining a Hold rating [1] - The company announced the sale of its 50% stake in Argentine nitrogen producer Profertil for approximately $600 million, which is expected to be a joint acquisition by Adecoagro S.A. and Asociacion de Cooperativas Argentinas Coop Ltda [2][3] - The sale aligns with Nutrien's strategy to focus on core assets and geographies, with proceeds intended for growth investments, share repurchases, and debt reduction [3] Financial Performance - Nutrien's proportionate share of Profertil earnings recorded in its Nitrogen operating segment totaled around $60 million over the previous four quarters [3] Business Segments - Nutrien operates through four segments: Nutrien Ag Solutions, Potash, Nitrogen, and Phosphate, providing a range of crop inputs and services [4]