Berenberg Adjusts Yara International Price Target, Estimates Amid Lower European Gas Costs, 'Better' Net Pricing

06:00 AM EST, 01/05/2026 (MT Newswires) -- Berenberg on Monday raised its price target for Yara International (YAR.OL) to 430 Norwegian kroner from 387 kroner and kept the rating at hold amid the decline in gas expenses in Europe and "better" net pricing amid Iranian and Russian supply outages. The research firm also adjusted its estimates, including sales, EBIT and EPS, to account for increased urea demand in India and improved urea affordability. Concurrently, analysts noted that the market "probably knows" about upcoming earnings upgrades as the Norwegian crop nutrition and ammonia group's share price rose nearly 15% since late November 2025. "We think the company is well positioned in terms of its product portfolio, with its nitrate and complex-blend fertiliser (NPK) volumes. The global supply-demand outlook for nitrogen-based fertilisers appears relatively benign, though capacity additions may peak in 2027," Berenberg wrote. "Still, shares performed well in recent months and we are concerned about soft commodity prices not offering much upside in response to overproduction. Accordingly, we are Hold-rated." During Yara's capital markets day on Friday, the research firm expects a "broadly reserved tone" from the company regarding additional capacity deployment, pending the mid-2026 decision on Yara's involvement with the $2 billion blue ammonia project in Louisiana, US. Updates on alternative uses for clean ammonia are also anticipated.