Mosaic price target lowered to $100 from $110 at RBC Capital

RBC Capital lowered the firm’s price target on Mosaic to $100 from $110 but keeps an Outperform rating on the shares. The company is expected to post a weak Q1 and cut 2023 guidance, but the ag and fertilizer market fundamentals remain favorable while the recent weakness has already been priced into shares, the analyst tells investors in a research note. Mosaic shares may be set up for a second half rally as fertilizer markets improve and with free cash flows remaining solid, the firm added.