10:49 AM EDT, 04/01/2024 (MT Newswires) -- RBC Capital Markets outlined Thursday the key takeaways from its investor meetings with Nutrien Ltd. ( NTR ) in Toronto.

RBC said overall the meetings were "constructive", with investors focused on long-term growth prospects in retail and stabilizing conditions in fertilizer markets. Investors are also less focused on the volatility of fertilizer prices in 2023 and retail margin challenges, RBC added.

According to RBC, investor feedback indicates a broad consensus that Nutrien's ( NTR ) shares are undervalued, while lacking immediate catalysts. "We think more stable market conditions and strong execution could help restore investor confidence after a volatile 2-3 year period which may benefit Nutrien ( NTR ) shares," RBC said.

RBC gave Nutrien ( NTR ) an outperform rating with a US$70.00 price target.

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