Mosaic price target lowered to $42 from $48 at BofA

BofA lowered the firm’s price target on Mosaic to $42 from $48 and keeps a Buy rating on the shares. The firm updated earnings estimates, taking into account Mosaic’s Q2 guidance and its own new price deck, the analyst tells investors. A wide Q1 miss in Phosphates “highlighted Mosaic’s operational difficulties” and is driving down the firm’s 2024 segment EBITDA despite higher realizations, the analyst tells investors.