RBC Capital analyst Andrew Wong lowered the firm’s price target on Mosaic to $32 from $35 and keeps a Sector Perform rating on the shares. The company’s operational improvements in phosphates and Fertilizantes remain in focus, which may come in the second half of 2024 and support margins as phosphate prices moderate, the analyst tells investors in a research note. Mosaic’s Ma’aden deal also looks “value accretive”, though with some uncertainty on realizing that value, RBC added.
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Read More on MOS:
- Mosaic price target lowered to $36 from $40 at CIBC
- Mosaic price target lowered to $33 from $34 at Mizuho
- Mosaic Co.’s Latest 10-K Reveals Risks: Supply Chains and Production Vulnerabilities Threaten Financial Health
- Mosaic sees FY24 CapEx $1.1B-$1.2B
- Mosaic reports Q1 adjusted EPS 65c, consensus 66c
