Q: Good morning. Nutrien has had a bad week. Is this just the cyclical nature of fertilizer or is there something else going on?
Cathy
Cathy
5i Research Answer:
Raymond James did downgrade the stock, citing 'protracted pressure (supply headwinds) in potash and potential downward revisions to our estimates'. Concern over China growth may also be a factor. It is down 7.5% this year, but is also very cheap at 11X earnings now.