Nutrien Ltd. (NYSE:NTR) sold its 50% stake in Argentine nitrogen producer Profertil for $600 million, prompting Jefferies to lower Nutrien’s price target to $60. The sale aligns with Nutrien’s strategy to focus on core assets. Nutrien’s earnings from Profertil totaled ~$60 million over the past four quarters.

Nutrien (NTR) provides crop inputs and services through four segments: Nutrien Ag Solutions, Potash, Nitrogen, and Phosphate. While NTR shows investment potential, certain AI stocks may offer greater upside. For insights on undervalued AI stocks benefitting from current trends, refer to our free report on the best short-term AI stock.

The sale of its stake in Profertil will see Nutrien allocate proceeds to growth investments, share repurchases, and debt reduction. Jefferies anticipates more asset sales from Nutrien in South America. Nutrien aims to focus on assets aligned with its long-term vision and strategy.

Read more at Yahoo Finance: Jefferies Lowers Nutrien (NTR) PT to $60 Following $600M Sale of Argentine Nitrogen Stake