Mosaic downgraded to Neutral from Buy at Citi

Citi analyst P.J. Juvekar downgraded Mosaic to Neutral from Buy with a price target of $50, down from $61. Mosaic has about 50% exposure to potash, which Juvekar calls "the weakest of the three nutrients." While he is not calling for "peak Ag" given that farmers "remain in robust shape," he does think the risk/reward in general for the group is "less attractive today compared to a year ago," Juvekar said, adding that in North America Fertilizers and Agri Chemicals he prefers seed and ag chemical companies over fertilizers.