Nutrien shares surge 7.70% after-hours after Morgan Stanley upgrades to Overweight and raises price target to $77.

Nutrien surged 7.70% in after-hours trading following a strategic upgrade by Morgan Stanley to Overweight from Equal-weight, accompanied by a raised price target to $77 from $70. The move cited "tighter for longer" global potash market fundamentals, projected higher prices through 2028, and robust earnings growth. This aligned with Nutrien’s recent Q3 results, which exceeded Wall Street estimates (EPS $0.97 vs. $0.94, revenue $6.01B vs. $5.77B), alongside a $600M divestiture of its Profertil stake, signaling portfolio optimization. The stock also hit a 52-week high of $65.10, driven by strong demand and favorable industry dynamics, while UBS and Mizuho further reinforced optimism with elevated price targets. Analyst upgrades and operational outperformance collectively fueled the sharp post-market rally.