Mosaic price target lowered to $48 from $50 at Mizuho

Mizuho analyst Christopher Parkinson lowered the firm’s price target on Mosaic to $48 from $50 and keeps a Buy rating on the shares. With the recent dissolution of the Black Sea grain deal and consequent Russian attacks on the Ukrainian port of Odessa, and ongoing fears of global drought, fertilizer stocks don’t appear “that cheap” on normalized earnings, the analyst tells investors in a research note.