Pareto Securities writes in an analysis that they see room for a reversal of the negative estimate momentum that has acted as a sink for Norwegian fertilizer manufacturer Yara's share.

"As we enter another year of limited capacity additions, with key importing countries still reporting "insufficient" stock levels, the backdrop remains favorable for the price gains we have seen so far in 2025 to continue," Pareto adds.

Pareto has a Buy rating on Yara with a target price of NOK 410.