According to Barclays, fertilizer stocks and agricultural supplies will continue to be fueled by supply challenges that persist beyond 2023. Analyst Benjamin M. Theurer initiated research on Corteva and Nutrien with overweight rating, said in a note Wednesday that demand for agricultural products will remain strong. “We see a prolonged supply/demand tightening beyond 2023, which bodes well for the broader group despite recent better performance relative to the major indexes,” the analyst wrote. Corteva has a crop protection business that will be boosted as farmers increasingly try to shelter their crops. It’s the only company where analysts have started reporting that Barclays is expected to grow earnings per share in 2023 compared with 2022. “With less volatility, but a business that doesn’t. “Continued growth and high value of proprietary seed,” we see CTVA Theurer write. Similarly, Nutrien is a “best in class” operator that will continue to generate steady income from its retail business, analysts said. Barclays has specified a price target of $116, 19% higher than Tuesday’s closing price Barclays began reporting on three other agricultural and fertilizer supply stocks: CF Industries and ICL Group are balanced and Mosaic Company is rated. underweight — Michael Bloom of CNBC contributed to this report.
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