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  5. NTR: what is going on? [Nutrien Ltd.]
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Q: what is going on?
Asked by Dan on April 10, 2023
5i Research Answer:

Fertilizer is a cyclical business, and in the past few weeks prices have dropped dramatically, with the drop being blamed on recession fears but also on farmers' budgets, which are being squeezed on all sides. This has resulted in a couple of broker downgrades on the stock, and some panicked selling. At 7X earnings the stock reflects at least some of this concern.