BNP Paribas Upgrades Nutrien to Outperform Amid Tight Crop Supplies and Rising Corn Prices

BNP Paribas has upgraded Nutrien (NTR) to Outperform from Neutral. The move comes as the bank believes that strengthening agricultural fundamentals and mounting global crop risks could fuel higher fertilizer demand and push corn prices toward $6 per bushel over the next year.

The upgrade is based on a combination of factors, including tighter crop supplies and potential impacts on food security. This scenario could lead to increased demand for fertilizers, which would benefit companies like Nutrien.

Nutrien is a major fertilizer producer with operations in several countries around the world. The company's stock price has been affected by market fluctuations and supply chain disruptions in recent years.