Mosaic price target lowered to $40 from $42 at CIBC

CIBC analyst Jacob Bout lowered the firm’s price target on Mosaic to $40 from $42 and keeps a Neutral rating on the shares. The company reported mixed Q4 results and provided Q1 segmental guidance that was slightly better than expectations, the analyst tells investors in a research note. With high-cost inventory worked down last year, the firm expects fertilizantes to post “decent” results in 2024 despite near-term weather issues in Brazil.