Mosaic price target lowered to $42 from $44 at CIBC

CIBC lowered the firm’s price target on Mosaic to $42 from $44 and keeps a Neutral rating on the shares. The firm, which continues to believe that potash demand should be strong in 2024, has trimmed its Q4 and FY24 estimates slightly to reflect Brazil’s weather issues, slightly lower potash prices and phosphate operational challenges, offset by a slightly higher phosphate price assumption, the analyst tells investors.