The Globe and Mail reports in its Thursday, May 7, edition that Raymond James analyst Steve Hansen upgraded Nutrien to "outperform" from "market perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Hansen's share target soared ahead by $14 to $90 (all figures U.S.). Analysts on average target the shares at $84.33. Mr. Hansen says in a note: "After several years of surplus conditions, we see early signs of tightening in key crop markets, particularly corn. Specifically, U.S. stocks-to-use appear poised to compress toward 11 per cent (vs. 13 per cent last year), driven primarily by lower planted acreage and yield reversion following last year's bumper crop. New biofuels policy support, skinnier NPK application rates, and weather-related risk (drought, El Nino) all provide incremental upside, in our view. While improving Latam supply (e.g., Argentina) will help offset this domestic tightening, we still durable upside -- one of the most important fundamental drivers of NPK prices. Corn futures support this outlook, recently breaching $5/bu (Dec. 26). Global NPK prices have risen sharply over the past eight weeks, primarily reflecting supply disruptions tied to the [Iran war]."