Mosaic downgraded to Underweight from Overweight at Barclays

Barclays double downgraded Mosaic (MOS) to Underweight from Overweight with a price target of $27, down from $30. Entering 2025, the firm is more optimistic about crop protection and maintains a positive outlook on diversified international protein names and ingredients. In contrast, Barclays adds caution to its grain processor coverage and adjusted ratings in fertilizer given the recent run-up in share prices. It recognizes the strength in potash volumes in 2024 did not bring stock appreciation for the major potash players.